{"id":34612,"date":"2023-05-31T17:04:29","date_gmt":"2023-05-31T16:04:29","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=34612"},"modified":"2023-06-02T11:12:32","modified_gmt":"2023-06-02T10:12:32","slug":"full-fibre-uk-altnet-broadway-partners-calls-in-administrators","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2023\/05\/full-fibre-uk-altnet-broadway-partners-calls-in-administrators.html","title":{"rendered":"Full Fibre UK AltNet Broadway Partners Calls in Administrators UPDATE"},"content":{"rendered":"

Alternative network operator Broadway Partners<\/a>, which is supported by sibling UK ISP Broadway Broadband<\/a> and had been aspiring to deploy their own gigabit-capable Fibre-to-the-Premises (FTTP<\/a>) network across rural parts of Scotland and Wales, has called in the administrators.<\/p>\n

Broadway – supported by a significant investment of \u00a3145m from London-based sustainable investment manager Downing LLP <\/strong>(here<\/a>) – was ultimately aiming to cover 250,000 premises with its new full fibre network by around 2028. But until recently, most of the deployments they’d already done were to smaller rural communities across different parts of Wales and Scotland (e.g. Isle of Arran, Pembrokeshire, Monmouthshire and Powys).<\/p>\n

NOTE:<\/strong> We’ve been informed that only around 20% of the \u00a3145m figure above has so far been invested.<\/div>\n

However, several other builders of new full fibre networks – even some of the largest players – are currently known to be struggling due to a combination of issues, such as rising costs (build, leases etc.), aggressive competition from rivals (e.g. overbuild) and the related need to secure a viable level of take-up by consumers. All of this has a tendency to dampen the appetite of investors, slow builds and put pressure on jobs.<\/p>\n

Something similar appears to have now happened with Broadway Partners. The company has officially appointed Teneo Financial Advisory<\/strong> as its administrator. The changes aren’t yet visible on their Companies House<\/a> records (may take 1-2 weeks), but we do note that two Directors resigned yesterday – Mark Lam<\/strong> and Gerard Mcquade<\/strong>.<\/p>\n

Similarly, Broadway’s recently appointed Delivery Manager, Karl Billingham<\/strong>, has just confirmed that he was made redundant too – after only being in the role for a couple of months: “Like many others at Broadway Partners, I am in the unfortunate position of being made redundant and am looking for a new role<\/em>,” said Karl on LinkedIn<\/a>. Around 137 other jobs are now on the line.<\/p>\n

Benji Dymant, Joint Administrator at Teneo, said:<\/strong><\/p>\n

“Following significant investment in Ultrafast Full Fibre broadband, the sector has been facing into a number of adverse macroeconomic issues, including raising interest rates and inflation, in a highly competitive environment.<\/p>\n

Despite having successfully connected a range of outlying communities to its network, Broadway has not been immune to the impact of these issues. As a result, it\u2019s been necessary to file for Administration to facilitate a restructure of the business and provide a stable platform to affect a sale.”<\/p><\/blockquote>\n

The operator is now hunting for a buyer and one aspect that may work in their favour is that their existing, albeit limited, FTTP<\/a> deployments don’t currently suffer from too much overbuild by gigabit-capable rivals. The company is also understood to have enough money to keep it going through the administration process. “The necessary funding is in place to guarantee service to its existing customer base, connect new customers to the existing network coverage and quality assurance<\/em>,” said Teneo.<\/p>\n

Speculating on potential suitors for Broadway is difficult due to the operator having two very geographically distant sides to their network, although in Wales alone we could imagine that Ogi<\/a>, Netomnia<\/a> and nexfibre<\/a> (VMO2) might have some interest. Openreach<\/a> is another possibility, but they don’t usually go in for consolidation.<\/p>\n

According to Teneo, Broadway has 971 fibre customers, 1,121 Fixed Wireless Access customers and employs 137 staff.<\/p>\n

UPDATE 2nd June 2023 @ 7:53am<\/strong><\/p>\n

Powys County Council has posted an update to say they’re “keeping a close eye on developments<\/em>” at Broadway Partners and hope that a buyer will be found, but, if necessary, the council will look to work with the affected communities to source an alternative provider. The council noted that the only ‘community broadband scheme’ in the county (a reference to the council’s own scheme) where homes have been connected to FTTP<\/a> so far, by Broadway Partners, is Aberedw and Glascwm.<\/p>\n

According to the council, the other communities in Powys that Broadway Partners has been working with include Llanafan Fawr and Llanwrthwl, Dwyriw and Manafon, Llangunllo and Whitton, Nantmel, Rhayader, and Painscastle. Anyone in these communities who has questions about their community broadband schemes should contact: broadband@powys.gov.uk<\/b><\/a> .<\/p>\n

Cllr Jake Berriman, Cabinet Member for a Connected Powys, said:<\/strong><\/p>\n

“While the situation with Broadway Partners evolves, there may be delays or changes to currently planned projects in the county. We will do all we can as a supporter of these schemes to minimise disruption and remain committed to securing reliable, high-speed connectivity for as many of our communities as possible.<\/p>\n

Delivering improved digital access to rural homes and businesses remains a key part of our plans to build a stronger, fairer and greener Powys.”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Alternative network operator Broadway Partners, which is supported by sibling UK ISP Broadway Broadband and had been aspiring to deploy their own gigabit-capable Fibre-to-the-Premises (FTTP) network across rural parts of Scotland and Wales, has called in the administrators.<\/p>\n","protected":false},"author":1,"featured_media":34585,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[472,56,89,71],"class_list":["post-34612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-business","tag-fttp","tag-scotland","tag-wales"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"\nFull Fibre UK AltNet Broadway Partners Calls in Administrators UPDATE - ISPreview UK<\/title>\n<meta name=\"description\" content=\"Alternative network operator Broadway Partners, which is supported by sibling UK ISP Broadway Broadband and had been aspiring to deploy their own\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/05\/full-fibre-uk-altnet-broadway-partners-calls-in-administrators.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Full Fibre UK AltNet Broadway Partners Calls in Administrators UPDATE - 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