Administrators appointed at Breathe
Michael Horrocks and Steven Pearson of PricewaterhouseCoopers in Manchester have been appointed administrators to failed ISP, Breathe.com Ltd.
Commenting on the task facing him, Horrocks said: ‘We will continue to trade the company while seeking to sell it as a going concern. We are actively looking for interested parties to maximise realisations and secure the future for Breathe.com. There are no job losses anticipated at present.’
Breathe, which was the fourth largest ISP in the UK, operating from sites in London and Cheshire, slid towards death last week last week, following losses of £50m.
The privately held company employed 140 people and was widely known for its mobile phone internet services.
Breathe, had been planning a public listing valued at £100m. But further collapse in dot.com shares scared investors away and it could not secure the necessary funding to continue its operations.
Breathe was the latest in a line of ISPs offering unmetered subscription services to have folded.
And in a further development, it has emerged the future of internet services offered by Breathe to English ICA members could be tied up with the beleaguered ISP.
In a statement the institute said it was in contact with Breathe and would continue to monitor the situation closely.
Links
Freeserve gets better as Breathe expires