Hispanic MVNO Movida files for bankruptcy

just talking about MVNOs? While Richard Branson thinks Virgin Mobile is strong, not all MVNOs can say the same. Movida, an Hispanic-market MVNO which launched in 2005, has filed for Chapter 11 bankruptcy protection. It’s largest debt is $15.9 million, owed to Sprint Nextel. For those unfamiliar with Chapter 11, it gives companies protection from its creditors so that it can reorganize or liquidate. If it chooses to reorganize, the company and its creditors work out a plan to reemerge. If it liquidates, it goes the way of Amp’d Mobile. The company upped and moved from Miami to Kansas City last year. Rafat Ali of mocoNews calls the move “counter-intuitive.” Movida was seeking to be “more central to its national customer base.” They made another move yesterday, filing their bankruptcy claim in the U.S. Bankruptcy Court for the District of Delaware in Wilmington. ]]>

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