The Internet service provider Breathe.com collapsed under a load of £50m in debts last week, and on Friday PricewaterhouseCoopers (PwC) was appointed as its administrator.
Breathe.com is to be sold without redundancies among its 140 staff.
"We are actively looking for interested parties to maximise realisations and secure the future for Breathe.com," PwC said in a statement.
Breathe, founded by mobile phone entrepreneur Martin Dawes, launched two years ago but was unable to build enough of a user base to sustain expensive brand advertising and an unsuccessful attempt to offer unmetered Internet access.
Freeserve, Britain's largest ISP, was recently sold to rival Wanadoo, owned by France Telecom. United News & Media is currently looking for a buyer for its own pioneering ISP, Line One.
Full story to follow.
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