Tilson Technology Management said it's making "significant progress" in its efforts to position for long-term growth following its Chapter 11 filing late last month.

In an update, the company claimed that recent media reports have "mischaracterized the intent and progress of the filing."

Last month, Tilson, a developer of fiber and wireless networks, filed for Chapter 11 bankruptcy following the abrupt cancellation of one of its clients’ contracts.

Despite that filing, the company said it "continues to grow and serve existing and new partners."

Founded in 1996, Maine-based Tilson has more than 1,000 employees and serves both the public and private sectors.

Since its filing, Tilson said it has been able to secure financing from Bank of America and others, providing critical liquidity to support operations, received court approval to pay its employees, and critical vendors.

The company said it has also received court approval to pay all vendors for goods and services provided during the Chapter 11 process without delay, so that these vendors are paid in full and on time for goods and services provided since May 29, 2025.

On top of this, the company said it has kicked off the process to obtain court approval for a formal process to sell its business.

“Tilson’s sale process simply seeks a new owner of its go-forward operations. To be clear, this is not a liquidation or going-out-of-business sale,” said Darrell Ingram, CEO, Tilson.

“Rather, we are seeking a partner who shares our vision for the company’s future, and understands and supports our strategy going forward. We are optimistic this process will result in a stronger Tilson for years to come.”

Tilson said the Chapter 11 filing in the US Bankruptcy Court for the District of Delaware, gives the company its best chance for long-term success.

In the announcement, the company said that it received a commitment for $37.5 million in debtor-in-possession financing from its existing lenders to support operations throughout the Chapter 11 process.

Tilson's financial troubles began earlier this year when Gigapower - the company’s largest client, formed out of a joint venture between telecommunications giant AT&T Inc. and BlackRock - terminated nearly all of its construction projects with Tilson, including all construction in Arizona, plus nearly all of the remaining construction work in Las Vegas.

As reported by Wireless Estimator at the time, Tilson had invoiced roughly $20m in change orders that went unpaid. This caused Gigapower to “terminate for convenience” on April 29, 2025.

Tilson reiterated in its update last week that the filing was made due to "setbacks caused by a key client."

The company did, however, note that it has been awarded more than $40m in new engineering, O&M, and consulting work during the last month.