WOM Chile has filed for bankruptcy just weeks after its Chilean unit.

As reported by El Colombiano, the telco has filed for bankruptcy with the local companies regulator to pay its debts.

Bogotá, Colombia
– PaulaAndreaCastañedaRobayo/Wiki Commons

The publication reports that WOM, which has around 6.4 million subscribers, needs around $10.3 million to save its operations.

In a statement, WOM said that filing for bankruptcy is necessary to guarantee its future.

“The request for business reorganization is the route that will guarantee the continuity of the operation and is, additionally, the result of an exhaustive analysis of alternatives carried out with the support of the Ministry of Information and Communications Technologies (ICT), the Superintendency of Companies and the Superintendency of Industry and Commerce (SIC),” said the company.

WOM was only launched as Colombia's fourth mobile network operator in 2020, backed by London-based investment fund Novator Partners.

The company said at the time that it would invest more than $1 billion into infrastructure projects in the country in the following five years.

Earlier this month, WOM Chile filed for Chapter 11 protection in the US, listing debts of more than $1 billion.

The company's former CEO Chris Bannister said that the telco sought Chapter 11 protection in a US bankruptcy court, as the company's best option to remain viable.

Days later Bannister departed the telco, only six months after joining WOM for a second stint as CEO.