Overview
- Alvarez & Marsal were appointed joint administrators on January 12 and said the London full‑fibre network will continue to trade with no interruption to customers.
- FitzWalter Capital took control from USS Pension Fund and Cube Infrastructure Managers about a week earlier and moved to place the company into administration.
- G Network has about £300 million of secured debt and roughly 25,000 customers, after halting its rollout at around 400,000 premises.
- Lenders including NatWest, Investec and Santander are expected to take writedowns, according to reports.
- Staff disruption and senior management redundancies were reported, with Ofcom preparing contingency plans as analysts point to wider pressure and likely consolidation among UK alt‑nets.