Broadband provider suddenly collapses into administration after 15 years with hundreds of jobs axed

A BROADBAND provider has plunged into administration after 15 years in business. The decision comes just days after the company axed hundreds of jobs across its global workforce. A UK subsidiary of an American-founded broadband provider has plunged into administration Credit: Getty The England-registered subsidiary of American-founded Cambium Networks has entered administration amid major business restructuring. On September 14, a notice of appointment of administrators was issued to the High Court in accordance with the Insolvency Act of 1986. Sign up for the Money newsletter Thank you! Following the decision, Cambium Networks told its customers on its website: “The affairs, business and property of Cambium Networks Limited are being managed by David Shambrook, Gordon Thomson, James Woodhead and Joe Barry of RSM UK Restructuring Advisory LLP as Joint Administrators.” Founded in 2011 as a spin-off to consumer electronics brand Motorola, Cambium Networks specialises in wireless telecommunications equipment. The UK branch, based in Ashburton, Devon, collaborates with the company’s global headquarters in Illinois and development centres across the US and in Bangalore, India. As of December 2024, the company had a presence in around 170 countries and service over 30,000 network operators, with customers representing industries from communications to technology. On September 11, days prior to the administration, Cambium Networks Corporation cut 260 jobs worldwide, amounting to around 53 per cent of the company’s global workforce. A statement issued on the United States Securities and Exchange Commission website further said that “no severance payments were offered or made” to its existing staff. Most read in Money Cambium’s financial difficulties are said to stem from declining demand and supply chain disruptions, with the company delisted from the stock market index Nasdaq in March due to delayed reports. The company’s closure comes just days after UK broadband provider iTalk was plunged into administration after nearly two decades in business. Cambium Networks has been approached for comment. Comment now