US rural wireless internet provider Open Range Communications is to be finally liquidated in January, with an auction to sell off its assets scheduled for 11-12 January.
Heritage Global Partners, an auction and asset advisory company, said that the…
US rural wireless internet provider Open Range Communications is to be finally liquidated in January, with an auction to sell off its assets scheduled for 11-12 January.
Heritage Global Partners, an auction and asset advisory company, said that the auction would feature equipment with an original acquisition cost of over US$100m.
Open Range filed for bankruptcy protection on 6 October after failing to get its internet business off the ground. This came after a series of regulatory and operational difficulties.
It initially sought a buyer, either for the whole company or selected assets. The broadband provider Tothehome made a stalking horse bid of US$2m, only to withdraw the bid in November.