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Metricom files for bankruptcy

Metricom, which provides high-speed wireless access in several metropolitan areas across the US, has filed for bankruptcy. The company plans to keep its 41,000 customers online, although it’s unclear for how long. In May, Metricom, which has never been profitable, announced it would need $500 million in cash to sustain its operations. The company evidently failed to raise the needed capital.

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