NetNet UK shows 60 the door

What has to happen by the end of the month?

Communications company NetNet UK has been shedding staff after their US parent filed for bankruptcy protection. NetNet's parent, World Access, filed for Chapter 11 bankruptcy protection after disappointing quarterly results at the end of February, and the UK company went into administration three weeks ago. The company has laid off 60 sales and admin staff after a management buyout failed to win approval from the administrator. "There are two bids on the table, and if they aren't accepted by the end of the month then the company will cease trading," said a confidential source who was among the recent redundancies.