Administrators are deciding the fate of West Australian infrastructure provider, Cape Range Wireless. The company will know whether it will be sold or restructured by the end of next month.
Cape Range tried to restructure in the middle of the year in an attempt to turn around its position of more than $2m in losses. This proved unsuccessful and it subsequently appointed administrators, Pitcher Partners, in October.
As part of its investigations, Pitcher Partners has also sought potential buyers. Applications for Expressions of Interest closed on Monday. A researcher for Pitcher Partners, Ben Green, said it had received "multiple" applications from potential suitors.
"We are now going through the process to determine the best interest of the company," he said.
Cape Range Wireless spent years of research developing and then commercialising its Arcadian System -- a product designed to target emerging markets, and sparsely populated areas with little or no access to fixed wire telephony services. To date, it had contracts in Malaysia and Bangladesh.
The administrators will report back to the company's creditors by December 29.