Chile Telecom Operator WOM Files for Bankruptcy in the US

WOM, once a rising Chilean startup that vowed to challenge the country’s dominant telecom operators, filed for bankruptcy after falling short on a plan to refinance $348 million in debt due in November.

The company filed for Chapter 11 bankruptcy protection in Delaware, according to documents dated Monday. The filing, which lists between $1 billion and $10 billion in liabilities and same in assets, allows WOM to keep operating while it works on a plan to repay creditors.

The mobile network operator bet on cheap plans and a bold marketing campaign to defy Chile’s incumbents, weathering intense competition across ...