UK ISP Invisible Networks Goes Bust
Posted: 05th Oct, 2003 By: MarkJ
Thanks to one of our readers (Web Buddy) for spotting that the UK broadband wireless offering ISP with a terribly ironic name, Invisible Networks, has gone bust after a failed rescue attempt:
Invisible Networks Status
Invisible Networks (www.invisible.uk.net), has over the past month been experiencing cashflow difficulties and the directors have taken professional advice on restructuring the company.
As part of this process, we have been seeking a buyer for the business and assets as a going concern, but regrettably heard this afternoon from the last remaining interested party that they will not be making a bid.
The company is insolvent and cannot continue to trade and therefore, in accordance with professional advice, the directors have today instructed business rescue and insolvency experts McTear Willams and Wood to assist in placing the company into Creditor's Volutary Liquidation.
Accordingly, within a short period of time, the network connections on which the community networks rely will be switched off by the network suppliers, disrupting connectivity for the communities.
We deeply regret the inconvenience and loss to all the stakeholders of the company, including creditors, shareholders, staff and customers, but though we have had considerable interest in the company, it was not possible to conclude a deal.
A number of individuals within the communities are considering possible options to continue/restore service.
We will endeavour to provide information on the Forums Here even if connectivity is removed.
The ISP was known for offering a number of region specific wireless services, with several situated in Cambridge.
Invisible Networks Status
Invisible Networks (www.invisible.uk.net), has over the past month been experiencing cashflow difficulties and the directors have taken professional advice on restructuring the company.
As part of this process, we have been seeking a buyer for the business and assets as a going concern, but regrettably heard this afternoon from the last remaining interested party that they will not be making a bid.
The company is insolvent and cannot continue to trade and therefore, in accordance with professional advice, the directors have today instructed business rescue and insolvency experts McTear Willams and Wood to assist in placing the company into Creditor's Volutary Liquidation.
Accordingly, within a short period of time, the network connections on which the community networks rely will be switched off by the network suppliers, disrupting connectivity for the communities.
We deeply regret the inconvenience and loss to all the stakeholders of the company, including creditors, shareholders, staff and customers, but though we have had considerable interest in the company, it was not possible to conclude a deal.
A number of individuals within the communities are considering possible options to continue/restore service.
We will endeavour to provide information on the Forums Here even if connectivity is removed.
The ISP was known for offering a number of region specific wireless services, with several situated in Cambridge.
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