PennyTel Goes Bust As Australia’s Pre-Paid Market Continues To Shrink

PennyTel Goes Bust As Australia’s Pre-Paid Market Continues To Shrink
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The pre-paid MVNO market seems to be getting smaller by the day: PennyTel, one of Vodafone’s few MVNO on-sellers, has officially gone bust.

The pre-paid provider has officially appointed a liquidator, following a difficult spell for the business.

Lifehacker explains that the director of the company was subject to a search and freeze order by a court after unexplained cash transfers into to the company. Very suss, indeed.

Vale, PennyTel. [Lifehacker]