Is Helio store closing sign of sale? posted by Joe on June 27th, 2008 - 7:31 am | Helio
We learn very on in school that correlation is not causation. So when Fierce Wireless sees a Helio store shut down, it doesn’t necessarily mean that the company is ready to go kaput. But considering what we’ve heard all week, it’s a strong possibility. The MVNO is said to be phasing out its retail operations, with the long-rumored merger with Virgin Mobile still just a rumor. According to the report by Fierce Wireless, Helio customers could find themselves Virgin customers in due time, whether there’s a merger or not.
Photo Credit: Sue Marek
It appears that the deal is crawling along because Virgin wants Helio to either declare bankruptcy (which would likely help Virgin out with Helio’s debt), or for it to liquidate. SK Telecom, which sank $270 million into Helio less than a year ago, is probably a bit hesitant about this.
Again, all signs point to something, anything, getting done. It might take a few more days or weeks. But in the end, it looks like Helio’s days have come to a close.