The People's Operator (UK) LLP (OC380236): administration
- Status
- Administration ended
- Administration began
- 2019-02-12
- Administrators
- Benjamin John Wiles
- Administrators' firm
- Kroll
- Formerly
- The People's Operator LLP
- Incorporated
- 2012-11-15
- Location
- London
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Creditor pressure / legal action
From the administrators' statement
TPO was founded in 2012, trading as a cause-based commercial MVNO offering retail customers pay monthly or pay-as-you-go mobile phone contracts. These contracts allowed customers to direct 10 percent of their monthly bill to a cause of their choice, at no cost to themselves.
TPO listed on the AIM market of the London Stock Exchange in December 2014, initially raising gross proceeds of £20m.
In 2015, TPO launched in the US having signed a long-term operating agreement with Sprint Corporation, an American telecommunications company.
Administrators' statement of proposals (2019-04-15) · Companies House register