Koala’s owners in financial strife

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Blitz Telecom, the owners of G-Node and Koala Telecom, is being reported to be in financial trouble and has been placed in administration earlier this month.

Director Umut Omer said in the Whirlpool forums that its primary investor recently withdrew his support and that he is working to "propose a Deed of Company Arrangement that would see creditors paid and the company come out of receivership".

He also admitted that some staff have been terminated during the week, but also said that he didn’t expect any changes in the service provided. He also attempted to reassure users, saying that the service will not interrupted.

Those who were with Koala Telecom, before Blitz bought them out of receivership, was having troubles last year.