Business Services Industry
Virginia Telecom Firm Took on Too Much Debt as Industry Soured, Analyst Says.
Knight Ridder/Tribune Business News, November, 2003
By Lois Caliri, The Roanoke Times, Va. Knight Ridder/Tribune Business News
Nov. 23--The fall of Ntelos, which now has a second shot at life after emerging from bankruptcy, might be blamed on a mix of factors. Doing business in the turbulent telecommunications industry played a role. Some shareholders who lost large investments blame management. And the economy in general was struggling throughout Ntelos' difficulties.
Ntelos filed for Chapter 11 bankruptcy protection in March of this year and emerged as a private company in September. The company was born in December 2000 when Clifton Forge-Waynesboro Mutual Telephone Co., a publicly traded firm based in Waynesboro, joined with privately owned R&B.
The unraveling came when Ntelos...
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