Xanadoo Holdings Inc., a wireless Internet service provider, sought bankruptcy protection from creditors without citing a reason for the filing.
The company, based in Bala Cynwyd, Pennsylvania, today listed more than $100 million in assets and debt of as much as $100 million in Chapter 11 documents in U.S. Bankruptcy Court in Wilmington, Delaware. Four affiliates also filed.
Rafael X. Zahralddin-Aravena, a lawyer representing the company, wasn’t immediately available to comment.
Xanadoo, started in 2006, provides high-speed fourth- generation wireless Internet service, known as 4G. It is “one of the first and only 4G wireless Internet operators in the U.S. to bring WiMAX to America’s Heartland,” it says on its website. Its plans start at $14.95 a month.
The company began 4G operations in Springfield and Decatur, Illinois, and later expanded into Lawton, Oklahoma, as well as in Lubbock, Abilene and Wichita Falls, Texas, according to the website. It also has licensed spectrum in 11 states in the Midwest and Southwest. Xanadoo mobile network infrastructure is built using Cisco Systems Inc. products.
The 20 largest unsecured creditors on a consolidated basis are owed about $1.3 million, court papers show.
The case is In re Xanadoo Holdings Inc., 11-11775, U.S. Bankruptcy Court, District of Delaware (Wilmington).
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