Starry Emerges from Bankruptcy as a Private Company

Fixed wireless access (FWA) provider Starry Group Holdings has emerged from Chapter 11 bankruptcy as a smaller, more narrowly focused privately held company. The implementation of Starry’s reorganization plan completes a process that began in February 2023 when the company filed voluntary petitions for bankruptcy in the US Bankruptcy Court for the District of Delaware and entered into a restructuring support agreement with lenders holding the company’s debt. The court accepted the reorganization plan on May 26, 2023. Starry says it has eliminated and restructured its debt and gotten an infusion of exit funding. Starry also has reduced its workforce and refocused its efforts on five key markets: Boston, New York City, Washington (DC), Denver, and Los Angeles. The company says that it will expand its Starry Connect program, which supports families in public and affordable house communities, and continue participating in the Federal Communications Commission's Affordable Connectivity Program (ACP).