UPDATE 1-Open Range Communications files for Chapter 11

Thu Oct 6, 2011 3:30am EDT

* Says looking to sell select assets

* Assets listed at $114 mln, liabilities listed at $110 mln

Oct 6 (Reuters) - Privately held wireless broadband operator Open Range Communications filed for bankruptcy protection in the U.S. district court of Delaware and said it was looking to sell selected assets.

Open Range listed total assets of $114 million and total liabilities of $110 million as of Sept. 30, the company said in court papers.

The company, which has been facing problems procuring spectrum from vendors like Globalstar and Alvarion , also said it reduced its headcount to 48 from 174 on Wednesday.

The case is: Open Range Communications Inc, U.S. Bankruptcy Court, District of Delaware, No. 11-13188. (Reporting by Divya Sharma in Bangalore) (divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net))

Stocks
Markets
Bankruptcy
Technology
Telecommuncations Services

Related Quotes and News

Company
Price
Related News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
rareese wrote:
More information regarding the bankruptcy filing: http://blog.ch11cases.com/2011/10/open-range-communications-inc-of.html

Oct 06, 2011 4:34am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
See All Comments »