Up to 300 Munster-based satellite broadband subscribers have had their service restored having been cut-off since Wednesday when Cork-based Mediasatellite went bust.
Mediasatellite went into liquidation this week having racked up losses of €4m, resulting in the loss of 18 jobs.
The collapse comes on the heels of the company winning a major contract with travel giant Galileo and announcing plans to raise €1m through a business expansion scheme.
It emerged investors who were willing to inject cash into the scheme pulled out as a result of the global credit squeeze and devaluation in the local property market. A creditors meeting has been called for 2 April and a liquidator will be appointed.
This afternoon, satellite broadband specialist firm National Broadband was instrumental in restoring broadband services to Mediasatellite’s 300 customers in the Munster area.
Through a deal with Mediasatellite, National Broadband will resume the one-way satellite service until the liquidator is appointed.
National Broadband’s core business is the provision of a range of nationally available satellite services, particularly in rural areas where DSL or cable broadband is not available. The company will soon be rolling out TV services.
By John Kennedy
Buy your tickets now!