WAM!NET has received the clearance from the majority of its bondholders that it needed to proceed with its finance deal with Cerberus Capital Management (PrintWeek, 3 August).
The firms second-quarter sales rose 49% to 9.2m ($13.4m). It is confident that it will be EBITDA-positive by the end of this year and cashflow-positive in the middle of next year. Losses to the end of June stood at 417m.
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"Bit weird. From what I've heard, things started to go wrong when their trade customers found out they put a B1 printing press in and went from a supplier to a competitor......"
"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
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