Charity-focused mobile network The People’s Operator is to cease trading by the end of this month after falling into administration.
The operator, also known as TPO Mobile, informed customers last week that its operations will cease on February 26.
After this date, existing customers will no longer be able to use the network for calls, texts or internet access.
Customers are being offered a free month of membership to the SIM-only network Smarty Mobile, which is powered by Three.
TPO was launched in 2012 with the stated aim of being an ethical mobile network by donating a proportion of profits to charities and other causes.
Its founders included the late Andrew Rosenfeld, who was the co-founder of property developer Minerva and a major donor to the Labour Party.
In 2014 Wikipedia co-founder Jimmy Wales joined the company’s board as it geared up for a stock market debut later that year. Mr Wales left in early 2017.
The firm’s share price collapsed by mid-2016 amid disappointing growth in the UK and US.
Its shares were suspended last year after it failed to file financial accounts and it was de-listed early in 2019 after its broker resigned.
TPO secured a funding lifeline from Lycamobile’s parent company WWW in December, but the deal later fell through and the company was pushed into administration by the funding crisis.
In a statement posted to the company’s website, TPO said: “We’re proud that together we’ve helped the charities and causes you care about and provided £100,000s to organisations across the country to help their missions.”