Pariell t1_j9hmlxq wrote
Reply to comment by willzyx01 in Boston Internet Provider Starry Files for Chapter 11 Bankruptcy by void_boi
Huh, I thought bankruptcy == going out of business. TIL
drizzlefoot321 t1_j9hpd9d wrote
there are different types of bankruptcy. Chapter 11 is a restructuring of debt but not necessarily going out of business. Chapter 7 is a liquidation process and relief from debt, most commonly known as going out of business for real.
commentsOnPizza t1_j9igof5 wrote
Yea, they aren't going out of business yet, but they did lay off half their workforce in 2022. When you're in the business of building networks, you need people.
I'm guessing they'll come back and maybe keep the lights on for their customer base, but they probably won't be expanding much in the near future.
drizzlefoot321 t1_j9ihkbc wrote
a lot of these ISPs were looking to surge their user bases and then sell out to the major providers. When you don't get bought out, you run out of capital to grow so aggressively. If they can maintain their customer base and revenue, then there is lot room for keeping the business.
manute-bol-big-heart t1_j9i8yeb wrote
Why are people downvoting this for fucks sake they’re admitting to not knowing something and interested in learning more. God
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