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Fixed-wireless firm files for bankruptcy

Troubled fixed-wireless provider Advanced Radio Telecom said Tuesday it intends to file for bankruptcy protection, will lay off most of its staff, and plans to discontinue its broadband service. The company said that because of "continuing distressed capital markets," it hasn't been able to complete some of the funding alternatives it had sought in recent weeks. Advanced Radio Telecom plans to lay off about 90 percent of its 200 employees and to continue providing broadband service to its current customers for the next 30 days, so they have time to switch to another service provider.

Troubled fixed-wireless provider Advanced Radio Telecom said Tuesday it intends to file for bankruptcy protection, will lay off most of its staff, and plans to discontinue its broadband service.

The company said that because of "continuing distressed capital markets," it hasn't been able to complete some of the funding alternatives it had sought in recent weeks. Advanced Radio Telecom plans to lay off about 90 percent of its 200 employees and to continue providing broadband service to its current customers for the next 30 days, so they have time to switch to another service provider.