{"id":37327,"date":"2024-02-25T11:24:43","date_gmt":"2024-02-25T11:24:43","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=37327"},"modified":"2024-03-07T07:42:36","modified_gmt":"2024-03-07T07:42:36","slug":"fibre-broadband-isp-lightning-fibre-uk-goes-into-administration","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2024\/02\/fibre-broadband-isp-lightning-fibre-uk-goes-into-administration.html","title":{"rendered":"Fibre Broadband ISP Lightning Fibre UK Goes into Administration UPDATE4"},"content":{"rendered":"<p>Eastbourne-based network operator and ISP <a href=\"https:\/\/www.lightningfibre.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Lightning Fibre Ltd<\/a>, which was busy deploying a new gigabit speed Fibre-to-the-Premises (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a>) network across parts of Sussex and Kent in England, fell into administration last week &#8211; only a few days after the company cancelled \u00a339.3m worth of shares.<!--more--><\/p>\n<p>Firstly, the usual recap. The operator, which was being backed by private equity firm <strong>Foresight<\/strong> (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2020\/10\/funding-boost-to-help-lightning-fibre-deploy-fttp-in-south-east.html\">here<\/a>), first began their network deployment all the way back in 2019 and initially aimed to reach 140,000 premises. The early focus of their roll-out was on locations such as Eastbourne, Hastings, Hailsham, St Leonard\u2019s, Heathfield and the Broad Oak areas of East Sussex, as well as Kent, in England (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2021\/03\/isp-lightning-fibre-uk-begins-hastings-fttp-broadband-rollout.html\">here<\/a>).<\/p>\n<p>However, the last solid progress update that we had from <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/lightningfibre\" rel=\"nofollow\" target=\"_blank\">Lightning Fibre<\/a> was in September 2022, when they reported that their network had passed some 60,000 premises (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2022\/09\/lightning-fibre-extend-uk-fttp-rollout-to-kent-and-west-sussex.html\">here<\/a>). Despite that, the operator has issued a number of smaller announcements and last month revealed that they were expanding their network to cover homes managed by <a href=\"https:\/\/www.shgroup.org.uk\/\" target=\"_blank\" rel=\"noopener\">Southern Housing<\/a> in East Sussex (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2024\/01\/lightning-fibre-extend-fttp-network-into-southern-housing-homes.html\">here<\/a>).<\/p>\n<p>The big development today, as spotted by one of our readers (credits to Paul), is that <a href=\"https:\/\/www.thegazette.co.uk\/notice\/4560385\" target=\"_blank\" rel=\"noopener\">The Gazette<\/a> have notified of <strong><a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/lightningfibre\" rel=\"nofollow\" target=\"_blank\">Lightning Fibre<\/a> Limited<\/strong> (company number <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/11168423\" target=\"_blank\" rel=\"noopener\">11168423<\/a>) falling into administration on 19th February 2024 (this was publicly confirmed by the site on Friday).<\/p>\n<blockquote><p><span style=\"color: #339966;\"><strong>Appointment of Administrators<\/strong><\/span><\/p>\n<p>In the The High Court of Justice<\/p>\n<p>Court Number: CR-2024-000764<br \/>\n<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/lightningfibre\" rel=\"nofollow\" target=\"_blank\">LIGHTNING FIBRE<\/a> LIMITED<\/p>\n<p>(Company Number 11168423)<\/p>\n<p>Trading Name: Lightning Fibre<\/p>\n<p>Nature of Business: Wired telecommunications activities<\/p>\n<p>Registered office: Unit 3-4 Technology Business Park, Moy Avenue, Eastbourne, BN22 8LD<\/p>\n<p>Principal trading address: Unit 3-4 Technology Business Park, Moy Avenue, Eastbourne, BN22 8LD<\/p>\n<p>Date of Appointment: 19 February 2024<\/p>\n<p>Names and Address of Administrators: Philip Lewis Armstrong (IP No. 9397) and Philip James Watkins (IP No. 009626) both of FRP Advisory Trading Limited, 110 Cannon Street, London, EC4N 6EU<\/p>\n<p>Further details contact: The Joint Administrators, Tel: 020 3005 4000.<\/p><\/blockquote>\n<p>In keeping with this development, the company details at the bottom of Lightning Fibre&#8217;s website have recently changed to the following: &#8220;<em>On 19th February 2024, the business and assets of Lightning Fibre Limited were transferred to <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/15474345\" target=\"_blank\" rel=\"noopener\">LF Holdco 2 Ltd<\/a>. The Lightning Fibre business continues to trade as normal<\/em>.&#8221;<\/p>\n<p>The address of LF Holdco appears to be linked to the Foresight Group: &#8220;<em>The Shard C\/O Foresight Group Llp, 32 London Bridge Street, London, United Kingdom, SE1 9SG.<\/em>&#8221; The move follows only a couple of weeks after the provider reported the cancellation of shares worth \u00a339.3m (<a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/11168423\/filing-history\" target=\"_blank\" rel=\"noopener\">here<\/a>), which can occur for <a href=\"https:\/\/www.gannons.co.uk\/insights\/cancel-shares-private-company\/\" target=\"_blank\" rel=\"noopener\">a number of different reasons<\/a>.<\/p>\n<p>The exact circumstances of the administration are currently unknown, although we have reached out to their Marketing Director for a comment and hope to report back soon (as it&#8217;s Sunday, we might not get a reply until Monday).<\/p>\n<p>As regular readers already know, full fibre network operators are currently under a lot of pressure from rising costs (build, leases etc.), competition from rivals (e.g. overbuild) and the related need to secure a viable level of consumer take-up to satisfy investors. Due to this, several providers have already restructured or scaled-back their build plans, but we haven&#8217;t yet seen many go into administration (although a few build contractors have gone this way).<\/p>\n<p>Administration itself often occurs when a company, such as one that is in financial difficulty, is put into the hands of an administrator, which then decides whether they can help the company to continue running or sell it off for a good price.<\/p>\n<p>During administration the company is protected from legal action by people or organisations who are owed money (creditors) and nobody can apply to wind up the company. Administration can also mean that the company doesn\u2019t have to pay all its debts in full, but if deemed necessary, they can still be wound up.<\/p>\n<p><strong>UPDATE 5:33pm<\/strong><\/p>\n<p>We&#8217;ve had a response from Lightning Fibre, although it&#8217;s a slightly longer version of the statement that already exists at the bottom of their website and doesn&#8217;t add much context. The operator is essentially describing this as a change of ownership, and we understand that customers were updated last week.<\/p>\n<blockquote class=\"bq1\"><p><strong>A spokesperson for Lightning Fibre said:<\/strong><\/p>\n<p>&#8220;On 19th February 2024, the business and assets of Lightning Fibre Limited were transferred to LF Holdco 2 Ltd. The Lightning Fibre business continues to trade as normal and operations are not expected to be impacted by the administration of Lightning Fibre Limited.&#8221;<\/p><\/blockquote>\n<p><strong>UPDATE 26th Feb 2024 @ 4:27pm<\/strong><\/p>\n<p>Customers of Lightning Fibre have kindly sent in copies of the message they received, although it doesn&#8217;t add much to what has already been said above. The key part of the letter is as follows:<\/p>\n<blockquote><p><span style=\"color: #339966;\"><strong>Dear Customer<\/strong><\/span><\/p>\n<p><em>Re: Transfer to LF Holdco 2 Limited<\/em><\/p>\n<p>Thank you for being a customer of Lightning Fibre. We are writing to let you know that Lightning Fibre Ltd has transferred its broadband business &#8211; Lightning Fibre &#8211; to LF Holdco 2 Limited (\u201cLF Holdco\u201d). We are writing to you as a formality and there is no action for you to take and your Service (including your price) will remain unchanged at this time.<\/p>\n<p><strong>Your current services remain unaffected and you need take no action.<\/strong><\/p>\n<p>LF Holdco 2 Limited, trading as Lightning Fibre, is a company registered in England and Wales (company number: 15474345) and its registered office is at The Shard C\/O Foresight Group LLP, 32 London Bridge Street, London, United Kingdom, SE1 9SG.<\/p>\n<p><strong>Your Direct Debit<\/strong><\/p>\n<p>Your Direct Debit will automatically change to the new account, and the way that we will manage your payments will not change. You do not need to take any action regarding the payment of your account.<\/p>\n<p><strong>Your personal data<\/strong><\/p>\n<p>Under the UK GDPR, LF Holdco is required to provide you with certain information about who LF Holdco is, how it will process your personal data and for what purposes and your rights in relation to your personal data. This information is provided in the Privacy Policy which can be found at www.LightningFibre.co.uk\/terms-and-conditions, and it is important that you read that information on how you can exercise your data protection rights.<\/p>\n<p>As part of the business transfer to LF Holdco, LF Holdco has become the controller for your personal data to the extent required to provide the services to you under the agreement. The transfer of your personal data to LF Holdco has been made in accordance with data protection laws including the UK General Data Protection Regulation (UK GDPR) to ensure that your privacy is protected at all times. LF Holdco is bound by the same data protection principles and regulations as Lightning Fibre Ltd.<\/p>\n<p>We will continue to process your personal data only to the extent necessary for the fulfilment of legal, tax or regulatory purposes. Please email the Data Protection Officer at DPO@lightningfibre.co.uk if you have any queries about the Privacy Policy or our data protection practices.<\/p>\n<p><strong>Changes to our Terms and Conditions<\/strong><\/p>\n<p>The following changes have been made to your Terms and Conditions:<\/p>\n<p>Section 1 About Us<br \/>\nSection 7.5 and 7.6 Installation Fees<br \/>\nSection 8 Voice Services<br \/>\nSection 16 Right to Refuse\/Terminate<\/p>\n<p>Your Service will continue \u2018as normal\u2019, and your Price and Minimum Service Period (where applicable) are unaffected. Services will be carried out in accordance with the LF Holdco Terms and Conditions, which can be found at www.LightningFibre.co.uk\/terms-and-conditions<\/p>\n<p>If you have any questions regarding the new Terms and Conditions, please contact our customer service team on 01323 380260 (Mon &#8211; Sun 8am &#8211; 8 pm).<\/p>\n<p>Yours sincerely,<\/p>\n<p>Daryl Knight<br \/>\nHead of Customer Experience<br \/>\nLF HoldCo 2 Ltd trading as Lightning Fibre<\/p><\/blockquote>\n<p><strong>UPDATE 29th Feb 2024 @ 2:21pm<\/strong><\/p>\n<p>The provider has issued some new comments via a <a href=\"https:\/\/www.lightningfibre.co.uk\/blog\/lightning-fibre-broadband-business-confirms-business-as-usual\" target=\"_blank\" rel=\"noopener\">recent blog post<\/a>, which adds a little more colour and hints of an off-net expansion on the retail ISP side.<\/p>\n<blockquote class=\"bq1\"><p><strong>Stefan Stanislawski, Lightning Fibre\u2019s CEO, said:<\/strong><\/p>\n<p>\u201cIn the short term we have changed our strategy to leverage our strong brand and focus more on growing customer take-up, rather than on expanding the network coverage. We also have exciting plans to extend the reach of our successful ISP beyond our own network this year.\u201d<\/p><\/blockquote>\n<blockquote class=\"bq1\"><p><strong>Amit Thakrar, Director at Foresight Group, said:<\/strong><\/p>\n<p>\u201cForesight is fully-committed to Lightning Fibre, and we have every confidence in the Senior Management Team to further develop the company.\u201d<\/p><\/blockquote>\n<p><strong>UPDATE 7th March 2024<\/strong><\/p>\n<p>More recent statements from Lightning Fibre, such as via the <a href=\"https:\/\/eastbournereporter.co.uk\/job-losses-at-lightning-fibre\/\" target=\"_blank\" rel=\"noopener\">Eastbourne Reporter<\/a>, have confirmed the unsurprising development of job losses (inevitable when the focus switches from growing build to growing take-up): &#8220;<em>We have changed our strategy to focus more on growing customer take-up, rather than on expanding the network coverage. This will mean a restructure of the business and <strong>some redundancies<\/strong><\/em>.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eastbourne-based network operator and ISP Lightning Fibre Ltd, which was busy deploying a new gigabit speed Fibre-to-the-Premises (FTTP) network across parts of Sussex and Kent in England, fell into administration last week &#8211; only a few days after the company cancelled \u00a339.3m worth of shares.<\/p>\n","protected":false},"author":1,"featured_media":32201,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[56,460,469],"class_list":["post-37327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-fttp","tag-kent","tag-sussex"],"share_on_mastodon":{"url":"https:\/\/mastodon.social\/@ispreview\/111991874230050464","error":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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