The travails of wireless backhaul provider FiberTower are continuing, as the company acknowledged it had received a delisting notice from Nasdaq. The company also hired FTI Consulting's Corporate Finance & Restructuring Group to help FiberTower "with identifying and evaluating financial and strategic alternatives to maximize value for the Company's stakeholders," according to a company statement.
Barring an appeal, trading of FiberTower stock on Nasdaq will be suspended on Jan. 30.
The dreaded evaluation of strategic alternatives is often one of the final moves before a company sells remaining assets and shuts down. The backhaul market in general has been on the verge of a mobile broadband-driven boom for some time now, so perhaps there is a future for FiberTower if another backhaul company finds value in its assets.
- see this San Francisco Business Times article
FiberTower recently confirmed a sharp fall in revenue
FiberTower missed a key interest payment in November