Sprint At Risk For Bankruptcy?

: Chris Lee Law Firm

  Filed under: Bankruptcy

sprintWith constant improvements in technology mobile phone companies have a lot of competition these days. As big name cellular providers continue to step up efforts to increase their market share, some of the smaller companies are struggling to maintain their position. Sprint is just one of the smaller companies that is barely treading water in the big pool of cellular services.

Sprint Sinking?

Stock shares for Sprint fell 4.5% this week as rumors about an increased risk for bankruptcy filing swarmed the news desks. Although stock shares are still up by 18% in the first few months of 2012, they are down by nearly 45% from the same time last year. Now hovering at a meager $2.76 a share, Sprint executives are taking an aggressive stance on the fate of the company.

One industry analyst, Craig Moffett, said  the company’s potential for filing is “a very legitimate risk.” Sprint is at a crossroads where they must now choose to revamp their operations and services or succumb to the competition. Moffett says that Sprint must “complete a successful network upgrade and deliver a compelling  4G product” if they are to overcome the debt burden looming over their heads. For now, Sprint executives have not responded to the company’s alleged risks for bankruptcy or made any comment about the future plans for the company.




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