Virgin Mobile South Africa, the MVNO that runs on Cell C’s network, has entered business rescue, MyBroadband reported. Virgin Mobile SA confirmed that it has begun a voluntary business rescue, stating that its vulnerable financial position could not bear the demands of the Covid-19 pandemic. It said it was making good progress, but could not continue under the economic constraints of the pandemic and subsequent national lockdown.
The operator said although it was making good progress, the business was already in a vulnerable position when the pandemic hit. It has appointed senior business rescue practitioner John Henning and junior practitioner Peter Thompson as its business rescue practitioners, and they have been working with all the company’s stakeholders to formulate a business rescue plan and lead the process in future.
Started in 2006, Virgin Mobile was South Africa's first MVNO.
