Wireless Provider Files for Bankruptcy
Posted on Oct 26, 2011 9:05pm PDT
The wireless provider Open Range Communications has reportedly filed for Chapter 11 bankruptcy protection. According to reports, the company owes the federal government $73.5 million for a past loan. As a result of the filing and financial problems, the company has reportedly laid off 126 of its 174 employees. The company has debts listed at $110 million while assets are at $114 million.
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