TNCI to partners: Commissions will continue despite Chapter 11 filing

Telecom reseller and VoIP carrier TNCI, which filed for Chapter 11 this week, told its channel partners during an invitation-only teleconference Tuesday, that, despite the filing, it expects to restructure its finances and emerge from bankruptcy quickly. The Boston-based company also assured partners it would continue to make commission payments.

Mike Ketchum, Intelisys' finance VP, told CRN that TNCI assured partners that there would be no disruption in commission payouts. "TNCI has been a trusted partner for a long time, and we take them at their word."

TNCI's filing showed it owes more than $5 million to Sprint (NYSE: S), $1.9 million to CenturyLink (NYSE: CTL), $1.7 million to AT&T (NYSE: T), $1.2 million to Universal Service Administration of Atlanta and $1 million to Verizon (NYSE: VZ).

Under Chapter 11 bankruptcy protection, a company is able to restructure its debt and finances under court supervision.

TNCI President Brian Twomey, in a statement Tuesday, said the company would use the filing to help it "regain our financial health and focus."

"We hope to emerge from Chapter 11 as quickly as possible," he said. "TNCI does fully recognize the importance of the Agent Channel to the future of our business, and every step we are making is to preserve these vital relationships, along with those we have with our customers and our employees."

For more:
- see this FierceTelecom article
- see this CRN article
- see this Telecom Ramblings article

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