Cable Co. Broadstripe Files For Ch. 11

Law360, New York (January 5, 2009, 12:00 AM EST) -- Struggling with significant competition from satellite television and other rivals, cable company Broadstripe LLC has filed for Chapter 11, aiming to restructure its debts.

In an affidavit submitted to the U.S. Bankruptcy Court for the District of Delaware on Friday, Gustavo Prilick, Broadstripe's CEO, said that the company has not been as successful as it anticipated in increasing its customer base.

Broadstripe said the Chapter 11 filing will allow the company to restructure its debt and noted that the company had already reached agreements with the...
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