IPMobile Files for Bankruptcy
IT Media is reporting that IPMobile applied to the Tokyo District Court for voluntary bankruptcy today. The article states that their wireless business license was returned to the Telecommunications Ministry at the same time and indicates the company debt is about 900 million yen with 110 creditors.
This story has been a real roller-coaster over the last few months since Mori took over in the spring and sold to NextWave in July, only to have the deal fall apart in August and announce a last ditch effort just days ago with Hong Kong based Distacom. We can’t help but wonder if this is really the end or just another bump along the way?