The growing financial strain on Britain's army of fibre broadband infrastructure providers has claimed its first casualty in the form of a rural network builder in Scotland and Wales.
Sky News has learnt that Broadway Partners, which launched in 2016, has called in administrators after its balance sheet was hit by soaring costs and rising interest rates.Industry sources said Broadway was one of many fibre infrastructure players facing severe financial pressures, with others expected to file for insolvency in the coming months.
Broadway's collapse comes two years after it announced a funding package from Downing LLP, an investment firm which committed £145m to the altnet.
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