It looks like the end is very near for Amp’d

Amp’d first had to file for Chapter 11 bankruptcy, then Verizon had threatened to shut them down — only to end up having to give them a further $7.5 million dollar loan. Now it seems that Verizon has had just about enough with Amp’d and is going back to court to hopefully put an end to the previous agreement. So if you are an Amp’d customer you may want to consider switching providers now, or at least just understand that you may wake up sometime soon without a cell phone to use.

According to Verizon Wireless, Amp’d has racked up just about $15.6 million since the bankruptcy. That means it has been costing Verizon about $370,000 a day just to keep Amp’d up and running. Prior to the bankruptcy filing they had already been down $41 million, which now puts the total debt at $56 million. Reports from the Pioneer Press are stating that Amp’d has just about $9,000 left in cash.

Either way you look at this, it seems that Verizon has been forced to help keep Amp’d afloat, and Amp’d seems to have done not much other that cost them more money. It seems the end is going to come. It’s just a matter of when.

Read [TheConsumerist]