Business · Companies · 58 mins ago
Rural internet provider Xplore gets creditor protection
Xplore, a Canadian provider serving rural communities, has been granted creditor protection as it tries to deal with insolvency.
The Ontario Superior Court’s order gives the company time to stabilize its finances and access $77-million in emergency funding.
Xplore has about 1,100 employees and serves hundreds of thousands of customers, and it says its networks will keep operating.
The company has struggled to secure funding, sell some spectrum licences and complete fibre projects needed to receive government subsidies.
It also faces stronger competition, and its subscriber base has fallen 13 per cent year over year.
Xplore is reviewing its assets and possible next steps, including selling non-core assets or seeking a new recapitalization with lenders.
Xplore Inc. has been granted creditor protection by the Ontario Superior Court as it faces insolvency.
The rural internet provider says it will pursue a strategic review that could include selling assets or restructuring.
The company missed two interest payments totalling more than $8.5-million and faced a looming liquidity crisis, according to court filings.
Xplore has about 1,100 employees and serves hundreds of thousands of customers in rural areas across Canada.
The company says it will continue serving customers and operating its networks during the process.
- Who
- Xplore Inc., a rural internet provider.
- What
- It was granted creditor protection and will review its assets and possible next steps.
- When
- The court granted an initial stay on Wednesday; the article was published November 12, 2026.
- Where
- The Ontario Superior Court granted the stay. Xplore serves rural communities across Canada.
- Why
- Xplore said it was insolvent and facing a liquidity crisis after missing two interest payments. It has been unable to reach a recapitalization agreement.
This story does not have two clearly opposing sides.
A government moratorium on transfers of spectrum licences began, according to Xplore.
Xplore sought court protection and later closed a $1.6-billion recapitalization arrangement.
Xplore missed two interest payments totalling more than $8.5-million.
The Ontario Superior Court granted Xplore an initial stay of proceedings under the Companies’ Creditors Arrangement Act.
- Employees
- Approximately 1,100
- Missed interest payments
- Two, totalling more than $8.5-million
- Subscriber base
- 13-per-cent year-over-year decline
- Emergency funding
- $77-million under a debtor-in-possession facility
- Customers
- Hundreds of thousands in rural areas across Canada
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