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Wednesday, 2 January, 2002, 07:59 GMT
End of the line for Atlantic customers
Services had been due to stop in November
Atlantic Telecom customers have reached the end of the line as the company's services come to a halt.
The company was placed in administration in October after debts soared to £700m. Atlantic's 2,000 business and 10,000 domestic customers were initially due to have their phones cut off the following month. However, a £500,000 deal financed by the Scottish Executive and the Department of Trade and Industry gave customers until 2 January to find a new supplier.
From Thursday, callers to Atlantic Telecom telephone numbers will hear a recorded message explaining the situation. The Scottish Executive said it did not plan to give any more help and pointed out that it had already given a substantial amount of money to give customers time to find alternative suppliers. Two years ago Atlantic, which operated business telecoms networks in the UK, Germany and the Netherlands, was valued at more than £1bn. However, the Aberdeen-based firm reported mounting losses in June. By August it confirmed it was in talks about its future and the following month some bondholders were pressing for Atlantic to be wound up. However, the company collapsed in October.
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