Search
 

GlobeSt.com EXCLUSIVE: OnSite Access Files for Chapter 11

NEW YORK CITY-The broadband provider filed for protection late yesterday and has let go two-thirds of its staff. The move is the latest wrinkle in a trend GlobeSt.com predicted last year.

By John Salustri | Updated on May 17, 2001

NEW YORK CITY-OnSite Access, one of the first and among the largest broadband providers–with some 600 buildings wired in 10 major cities–has filed for Chapter 11 bankruptcy protection, GlobeSt.com has learned. The papers were filed late yesterday with the US Bankruptcy Court for the Southern district of New York. This is the second tech death this week, following on the heels of BroadBand Office.

Some two-thirds of OnSite’s staff has also been cut, lowering the total base to 80 people. Nevertheless, according to a company spokesperson, “this is not about our business model, but rather, it’s about the condition of the broadband industry.” Late last year, in a special report, GlobeSt.com predicted that that condition would worsen before it got better, noting the increasingly tight fiscal times these companies were facing. Ironically, one of the experts quoted in that story was from OnSite Access.

For the story, click on: Telecoms Will Be the Next Big Consolidation Market-and Building Owners Can Only Gain

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.