C|Net’s News.com is reporting that Metricom, makers of the Ricochet 128 Kbps wireless service that is available in select cities, filed for federal bankruptcy protection on Monday.
According to the article the move was in reaction to “the depressed state of the capital markets.” Metricom has 41,000 customers and is still operational.
Further Reading:
- Wireless Pioneer Circles the Wagons [Industry Standard]
- Metricom Files Chapter 11 [Industry Standard]
- Metricom Seeks Chapter 11 [Internet News]
- Ricochet in wireless trouble [C|Net]
- Wireless Internet Firm Metricom Files for Chapter 11 Protection [WSJ -Paid subscription req’d.]
- Metricom Announces Another Round of Job Cuts in Effort to Conserve Cash [WSJ -Paid subscription req’d.]
- Metricom Shelves Plans in Buffalo [All Net Devices – June 21, 2001]
- Tetra Tech Updates Guidance for Third Quarter Based on Charge forMetricom Work [Business Wire]