Mobilicity Request Creditor Protection for Another 60 Days

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Mobilicity’s submitted an application to the court requesting creditor protection for another 60 days. According to a court document spotted by MobileSyrup, the struggling wireless startup is asking the court for another ‘stay period’ which ends on February 18, 2014.

The struggling wireless startup has obtained a court order approving the auction process, with the first deadline for bids initially set for December 6, 2013. However, on that day, the appointed Monitor announced that it would extend the bid deadline to December 16, 2013 at noon, based on the request of qualified bidders.

It is worth noting here that the 700MHz spectrum auction will be held on January 14th, which is expected to (re)shape the Canadian wireless landscape.

Currently, Mobilicity has about 175,000 active subscribers, and its rumoured price appears to be roughly around $350 million.