Amp'd Mobile Files for Chapter 11 Bankruptcy Protection

The struggles for the nations leading MVNOs continue with the recent chapter 11 bankruptcy protection filing by Amp'd mobile. It looks like they have a debt of just about 100 million and owe about 1/3 of that to Verizon Wireless, the carrier for this MVNO. They also owe almost 16 million to Motorola.

Oddly enough Amp'd claims that the cause of this filing is not because of poor buisness, just the opposite. They claim that they have been growing too fast, adding 20,000 customers a month since late last year, and just have not been able to keep up with the back end infrastructure.

They hope that this bankruptcy protection will give them the room and time they need to get caught up.