NextGenUs unable to secure any more funding

Wireless and fibre optic broadband network operator NextGenUs has admitted it is unable to secure any other means of funding, meaning it cannot pay back its debts.

The company revealed it has effectively run out of money after failing to win backing from investors following a series of talks.

In the Hull and east Yorkshire area, where NextGenUs operates a super-fast broadband network, the company said Quickline Communications has agreed to step in on an interim basis and provide backhaul internet services to end users.

Service continuity is also set to be maintained across its Cumbrian infrastructure thanks to an enquiry from a "serious" potential investor, NextGenUs explained, while negotiations regarding the Lincolnshire and North Yorkshire networks are ongoing.

The news comes only a matter of weeks after the company insisted its connections in Cumbria were "growing at a rate of knots", just three months after its symmetric super-fast broadband service went live in the county.