Turning the Page on Chapter 11: Let’s Break Free from ‘Big Internet’
Aug 31st, 2023
Earlier this year, Starry announced a company restructuring intended to put us in the best position to spread #HappyInterneting for many years to come. Our primary goals were to stabilize our cost structure, reduce our debt, simplify our organizational structure and develop cost efficiencies across the business.
We are happy to share that we have officially completed this process!
Today, Starry is a stronger and more efficient company. As we chart our path forward, we plan to take #HappyInterneting to a new level. We’re focused on increasing our industry-leading customer satisfaction scores, rolling out new products and services, and most importantly, helping consumers break free from the Big Internet monopoly.
The road to building a better ISP has not always been easy. But through it all, Starry has maintained our focus on serving and delighting our customers because we fundamentally believe that your internet service experience shouldn’t suck.
We built Starry because we knew we could do better. And, as an industry, we have to do better because internet access is not a luxury, it’s an absolute necessity in order to thrive.
For the last nine years, we’ve been committed to this principle of doing better, of delighting our customers and making broadband internet access more affordable and accessible, for everyone. None of that changes as we successfully emerge from this restructuring process.
I promise that Starry will find new and more ways to delight our customers and change the industry, for the better. We’re excited for the future.
Thanks for being on this journey with us. Here’s to many, many more years of #HappyInterneting.
Frequently Asked Questions on Starry Exiting Chapter 11
Explain to me what today’s news means for Starry.
- Today’s announcement is an important and exciting step forward for Starry.
- Earlier this year, Starry initiated a voluntary restructuring of the business through the Chapter 11 bankruptcy process. Our goal was to preserve the business and operations, reduce our company debt and restructure the business for continued success. That process is now complete and Starry is exiting Chapter 11 proceedings as a stronger company, ready to continue serving our customers with the same great internet service experience they’ve come to expect from Starry.
Is Starry still operating? Will anything be changing with your services?
- Absolutely! Throughout the entire restructuring process Starry has continued operations as normal and nothing changes with our completion of the process – except maybe you’ll see more of our Starry team members out in the field and in our communities!
- Starry continues to be the customer-experience standard-bearer for internet service providers. Nothing is changing there. We’re 100% committed to fair and transparent pricing practices, NO data caps whatsoever, and a customer support experience that delights, not frustrates, you. All of the hallmarks of Starry’s Happy Interneting experience remain and we’re committed to continuing to build products and experiences that enhance your experience with our service.
Are you still a publicly-traded company? If not, who owns Starry?
- No, with our exit from the Chapter 11 restructuring process Starry will no longer be a publicly-traded company on the NYSE.
If I owned shares of Starry previously, what happens to them now?
- On March 20, 2023, the U.S. Bankruptcy Court of the District of Delaware issued a Final Order establishing rules around notification procedures, approving restrictions on certain transfers of stock and worthlessness deductions with respect to Starry stock. That final order can be found here: http://www.kccllc.net/starry/document/2310219230320000000000015
Is Starry still expanding its operations?
- Yes! Starry is growing and expanding our footprint across the cities we serve today, including Boston, New York, Los Angeles, Denver and DC. To sign up for Starry, visit https://starry.com/.