It’s time to call it quits for Terrestar. They have applied for a Chapter 11 bankruptcy in order to prevent themselves form the possible multi-billion amount of liabilities in which they have. This may come as a tough blow to many, but in all I think for the most part people have seen this one coming for quite sometime. Terrestar has not necessarily the most popular phone companies to purchase your telephones from unless you will be needing satellite calling or are in some remote location that you will need to have a satellite phone. The worst part of this all is that they had just opened a contract with AT&T very recently and one of their supporters EchoStar has offered them $75 million to help with funding through the bankruptcy.

Sources: Engadget Reuters