Creditors Vote To Put Woosh Wireless Into Liquidation

Woosh Wireless' creditors, thought to be owed almost $13 million, have voted to put the troubled internet provider into liquidation, The New Zealand Herald reported. The business was founded in 1999 and has burned through more than $100 million since that time. Grappling with the challenge of its ageing technology, the company had been winding down some of its operations. It sold about 10,000 of its customers to Slingshot last year and still had about 2000 on its books. After trading unprofitably, two Woosh companies were put into voluntary administration in May. Their creditors, at a meeting in Auckland last Thursday, voted to put the business into liquidation. A report by administrators Brendon Gibson and Neale Jackson, circulated to creditors before that meeting, estimated they are owed almost $13 million. Read more.
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