Financially troubled broadband provider Excite@Home has stopped accepting new subscribers, citing the bankrupt company's need to conserve cash.
"Adding new subscribers increases incremental capital cost outlays, which directly affects the company's cash flow during the U.S. bankruptcy process," Excite@Home spokeswoman Londonne Corder said.
Excite@Home, the leading provider of broadband Internet access, with nearly 4 million customers, filed for Chapter 11 bankruptcy protection two weeks ago and negotiated a deal to sell its high-speed network to AT&T for $307 million in cash.
A committee of five large creditors, appointed by a trustee, is leading the charge to renegotiate the AT&T deal or find a new buyer.
