Full Fibre UK Builders Light Source Facing Uncertain Future UPDATE
Civil engineering firm Light Source, which works with a number of UK operators to deploy Fibre-to-the-Premises (FTTP) based broadband ISP infrastructure (e.g. Upp, Netomnia, Virgin Media, Airband and KCOM), appears to be experiencing problems after engineers reported being laid off and a manager said they had “entered administration“.
At the time of writing, we haven’t yet had any formal confirmation that Light Source is in administration, although a number of posts by staff and related network operators on social media appear to indicate as much (example). In particular, one of the company’s Senior Project Managers, Kyle Smithers, has stated via LinkedIn that they’ve now “entered administration.”
According to Kyle: “Today definitely was not the day I expected, finding out Light Source have entered administration. I was not planning on leaving and wholeheartedly hope they pull through this uncertain time. I have enjoyed every minute throughout the ups and downs, but I have to think of my family in case the worst happens and I find myself potentially looking for a new role.”
The details on Companies House and The Gazette don’t add much because the latest accounts have yet to be published, although a number of charges have been registered and an equity investment firm called Meridian Structured Finance Limited was listed as an entity with significant control – taking somewhere between 50% and 75% of shares – on 16th January 2023 (the change itself occurred on 14th December 2022).
We have asked Light Source for a comment and await further details. The situation could potentially disrupt a number of FTTP builds.
UPDATE 7th Feb 2023
A new post on The Gazette has revealed that Light Source’s appointed administrators are RSM UK Restructuring Advisory LLP in London.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and Linkedin.
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Sure they’ll be many more.
Alt-nets pushing for targets set by Private Equity but not offering good rates.
This isn’t an altnet though – it’s a contractor used by altnets.
So unless it’s been caught by bad debts from a major customer, it seems more likely a case of mismanagement.
As NE555 said it is not Altnet companies but their contracttors, like Kelly does some of Openreach stuuf.
But I do think that we will see some Altnet go belly up, they can’t keep building networks and stepping on each other’s toes, not enough customers, even in large towns and cities, something got to go and that is one of the thing that scares me, is that we go to an alt net, they go belly up and talk Talk or something as bad buys them up
I have heard Openreach did not pay LS & that was due was the final straw here I think – not sure the ALTNETS that LS were involved in had paid either! I just hope their Subbies are paid as its OPENREACHS WORK not LS’
Must be a reason for why they didn’t pay. Two sides to every story
OR tend to use Morrison for FTTP work.
Openreach dont use LS
Openreach used Light Source to build new microduct and swept tees to properties in Leeds across at least two separate projects. Other work too.
Can tell who the contractor doing the work is a couple of ways from Streetworks.
“Openreach dont use LS”
You better tell that to the Light Source guys who did all the spine work for Openreach in my area.
Maybe that’s why they have gone bust. They did Openreach’s work for them when they weren’t meant to.
I was an employer of lightsource absolutely shit how the treated the staff had us work 2 weeks with the weekend work included before the announced administration we know have to get our wages through other avenues gave us a ten min voice video to say are jobs was no longer there and that we have to claim our money online very bad management at the top how you go from having 48 million profit 2 years ago to go into administration is beyond me definitely something dodgy at the top
So this equity firm took over in December but they failed just one month in??
Openreach turned off the payment system where suppliers submitted applications for payment for all suppliers. As a result, no one was paid. Every supplier appointed to ONSA will be laying off staff. All subcontractors appointed to support Tier 1’s will close or make significant layoffs.
I wonder if they will club together to take action?
Light Source are at the moment digging in Barrow upon Humber but they are not digging.
Talking to a driver he told me that digging was off as the company had gone into administration (02/02/23)
BT have a habit of not paying subbies. Lots of small companies have gone due to BT and their payment, or non payment program
The issue was AIR BAND not paying LS not Openreach. They owe LS millions
Agreed Air Band are not a company you want to deal with. They do not pay their bills and have alot to answer for. I am aware they owe Light Source over £1m. Not good