BELLEVUE, Wash.-Advanced Radio Telecom Corp. said it intends to file for bankruptcy and lay off approximately 90 percent of its 200 employees.
ART said that due to the continuing distressed capital markets, it has been unable to complete any of the financing alternatives it had been pursuing. The company will provide service to its current customers for approximately 30 days to enable them to transition to other service providers.
ART operates in the 38 GHz frequency band.
