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