NextGenUs and Fibrestream a short step away from administration
The turmoil that has been the NextGenUs saga is coming to a crucial point in its story, with a Leeds High Court hearing due today, which should place both NextGenUs UK CIC and Fibrestream Limited into formal joint administration.
It appears that even though the formal hearing is not complete, that offers are being taken for parts of the network/hardware, which has services running in Hull and East Yorkshire, Cumbria, North Yorkshire and Lincolnshire. A variety of fixed wireless and fibre networks were deployed by the two companies.
Update 17:30: It seems an attempt has been made by the administrator to sell the assets of the company for the best price, with a very rushed auction, that lasted 28 minutes. Fortunately it seems some offers had been sought in the 24 hour period from when administration was practically a formality. The short window has resulted in a second round of offers, for Hull & Ashby, Cumbria and North Yorkshire. The indications are that Connexin has taken on the Hull and Lincoln network assets according to an Unofficial Karoo Forum post.
The rush is because suppliers have obviously reached the end of their tether and credit limits and without a commitment from a new network owner then service provision is not guaranteeed at all in even the short term, let alone the long term.