Amp’d Mobile Files Chapter 11 Bankruptcy; Hopes To Restructure, With Funding In Place

37 Comments

Update: it has filed…see this follow-up post.
Amp’d Mobile, the content-heavy MVNO which has had close to $360 million pumped into it over the last two years, will be filing has filed for Chapter 11 bankruptcy in the Delaware bankruptcy court, MocoNews.net has learned through sources, in hopes to restructure the company and the board. This comes after a protracted board fight over the future direction and additional funding of the company in which MTV Networks and Universal Music Group have investment, besides other VC and private equity firms. From what we know, the company has the funding in place to take it out of bankruptcy court quickly, and continue the operations. Not sure whether the current management structure will stay in place. We will have more as we find out more.

For our full coverage on the Amp’d drama, read our dedicated section.

37 Comments

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Well I guess with prices of contract plans coming down, the month to month business for cell phones is probably not great.

Rebecca Sutton

I always paid my bill on time, when they went bankrupt, I no longer had service. I still had one bill to pay but not sure who to call and if I am still supposed to pay it. Does anyone know?

Flavio

hi i have a ?…last year i applied for amp'd mobile and when i was a customer i was getting my bills to high that i couln'd pay for them.but im trying to pay you guys but the problem is that i dont have you guys number to talk to you guys so that i can pay you guys the money i owe you people.so can you please send me a bill…

devonee

This only happened only because of total mismanagement and possibly laziness. But when the company is back on its feet it will be a little hard to get customers because by then other companies will be sio advanced in sales

Ben

FIRST AND FOREMOST, PEOPLE LIKE MATT AND JAKE OR WHOEVER DEFENDS THIS COMPANY NEEDS TO GO TO HELL…..ANYWAY PEOPLE I CONTACTED A LAWYER REGUARDING A CLASS ACTION LAWSUIT AND I WAS TOLD THAT WE SIGNED AN ARBITRATION AGREEMENT THROUGH THE COMPANY THAT PROTECTS THEM AGAINST THOSE KINDS OF LAWSUITS. SO THERE IS NO WAY TO FILE A CLASS ACTION LAWSUIT AGAINST THIS COMPANY. NOW YOU CAN FILE AN ARBITRATION SUIT AGAINST THEM BUT THAT’S GOING TO COST SOME MONEY AND IF YOU DONT WIN IN COURT YOU HAVE TO PAY THEIR COURT COST AND EVERYTHING. THIS COMPANY REALLY THOUGHT OF A WAY TO DICK EVERYONE OUT OF THEIR MONEY AND OVER THEIR ASSES. JUST A LITTLE MORE INFO, THE COMPANY DID FILE FOR BANKRUPCY AS GRANDMASTERS AND OTHERS SAID BUT THEY DID THAT TO PROTECT THEMSELVES FROM LAWSUITS.

NOW IF ANYONE HAS TALKED TO A LAWYER AND THEY HAVE TOLD THEM A DIFFERENT STORY PLEASE LET ME KNOW.

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