2nd Century closes; Covad bondholders demand changes
2nd Century Communications, a privately held competitive carrier that provides local and long-distance phone service to businesses, announced it will close its doors and lay off the last of its 121 employeess.
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Bondholders of Covad Communications sent a letter to the company demanding that it stop “wasting” cash and restructure to avoid repeating the “debacle” suffered by creditors of bankrupt NorthPoint Communications.
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