Mobilicity files for bankruptcy protection, says it has a buyer

TORONTO – Mobilicity filed for bankruptcy protection late Monday, but said that it’s business as usual for its wireless customers - and that it has a buyer at the ready. The company issued a statement after the markets closed confirming that it applied for and received protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA"). The move will allow it “the necessary time and financing to advance and complete a going-concern transaction, which is before Industry Canada for its review and approval”, the statement reads. “Mobilicity believes that the proposed transaction is in the best interests of its stakeholders and hopes...