Starry Files for Bankruptcy
Fixed-wireless provider Starry, which previously slashed staff and refocused on dense urban markets with multi-tenant buildings (see 2301190047), sought Chapter 11 bankruptcy protection. Starry announced Tuesday it filed voluntary petitions for relief in the U.S. Bankruptcy Court for the District…
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of Delaware and entered into a restructuring support agreement with lenders holding the company’s debt. “Over the last several months, we’ve taken steps to conserve capital and reduce costs in order to put Starry in the best position to explore various financing paths for the company,” said Chet Kanojia, Starry CEO: “Our next step in this journey is to continue to strengthen our balance sheet through a Chapter 11 restructuring process.”