“Bankruptcy”, “administration”, “shares suspended” - three of a growing number of terms I hear almost every day.

Tiscali logo

Normally it’s about financial institutions, high street retailers or the construction industry. So you can imagine my surprise when I heard the words “Tiscali” and “shares suspended” in the same sentence this week!

Well, not a total surprise - they’ve been trying to sell off UK-based assets since early last year to help pay off their debts. However BSkyB, the last remaining potential buyer, pulled out of talks on Monday leaving Tiscali with a sore throat. £453m of debt, recent failure to meet debt repayments and two multi-million pound interest payments this week. All of this news results in a 40% drop in Tiscali’s share price and the suspension of their shares to prevent bankruptcy.

Ouch.

Tiscali own Pipex, Nildram, Freedom2Surf among a few other brands - if your Internet Service Provider is one of these it might be worth checking out a few alternatives just incase bad goes to worse. One of them is BT-owned PlusNet - their prices are really good, their service is brilliant (UK call centres, 24/7). Don’t just take my word for it - check them out for yourself :o)