Chapter 11

Amp'd Mobile Goes Bankrupt, Claims They're Getting Too Big

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Late Friday night the hippest MVNO next to Helio filed for Chapter 11 due to rapid growth and a back-end infrastructure that was unable to handle its 200K subscriber base. Amp’d claims they just need to restructure, but maybe it’s because they owe Verizon $33 million and a total debt of around $100 million. I’m no finance guy, oh wait, yes I am, but that’s probably why Amp’d is filing for bankruptcy protection.

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