Amp's Mobile Operator Files for Bankruptcy

MVNO operator Amp'd Mobile has filed for Chapter 11 bankruptcy. The move comes as somewhat of a surprise, as Amp'd recently boasted of solid subscriber additions; at last count, the MVNO was nearing the 200,000 subscriber mark.

The company's filing marks the second major flame-out in the MVNO sector. Mobile ESPN, the sports outlet's mobile effort, shut down its operations late last year.




In a statement, Amp'd said the company was forced into bankruptcy due to its rapid growth. They claim growth exceeded their plans and infrastructure support. Ampd will continue "normal business operations" through the bankruptcy process, and that its senior management team "remains largely intact."

Amp'd said that it will work with one of its unnamed investors to obtain debtor-in-possession financing, which would fund the company through the bankruptcy process. Amp'd said "our investor supports our vision, strategic direction and business plan." The company did not name the investor.

Technorati Tags: amp'd, ampd mobile, ampd mvno, ampd bankruptcy

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