Open Range to Liquidate Assets

Bankrupt wireless broadband provider Open Range Communications will shut down, and its assets liquidated, after the sole bidder for the company backed out on Nov. 15.

Minnesota-based TotheHome had offered $2 million for Open Range, which delivered service in 12 states, and had entered into an asset-purchase agreement on Nov. 2. But TotheHome withdrew its offer after its president, Shawn Sprengler, indicating that the company had received some unexpected information.

Open Range filed for Chapter 11 protection in October, saying it had about $114 in assets and $110 in debts. The company blamed the bankruptcy on its inability to get ...