Tilson Technology Management Inc. (TTMI), the network development and information infrastructure professional services company based in Portland, ME, announced steps it is taking to address financial challenges triggered by the abrupt cancellation of one client’s contracts and to position the business for long-term success going forward.
That now-canceled client has been identified by Tilson as Gigapower, the fiber joint venture between AT&T (NYSE: T) and Blackrock (NYSE: BLK), in a May 28, 2025 ‘First Day Pleadings’ filing with the U.S. Bankruptcy Court for the District of Delaware. Gigapower had contracted with TTMI in 2022, to design and build its fiber networks in Las Vegas, NV, and Gilbert and Chandler, AZ. The filing claims that from March 2025, Gigapower withheld payments, delayed construction work approved by the city of Las Vegas and terminated “for convenience”, all remaining construction work in all three cities.
On May 5, TTMI notified Gigapower that it was suspending work due to unpaid invoices and unresolved change orders. The company is assessing the claims against Gigapower including unpaid invoices, the termination charge and related contractual and other rights. TTMI claims that the termination charge alone across the three markets exceeds $115 million.
The company and affiliates, Tilson Middle Street Holdings, LLC and Boundless Broadband, LLC, have initiated a voluntary Chapter 11 process in Bankruptcy Court. Tilson management says that the company and all of its affiliates are operating as usual and meeting obligations to clients and partners without interruption.
Tilson has received a commitment for $37.5 million in debtor-in-possession financing from its existing lenders to support operations throughout the Chapter 11 process. The company says it is striving to complete the restructuring as quickly as possible and emerge from Chapter 11 as a financially stronger company in the third or fourth quarter of 2025.
Darrell Ingram, Tilson CEO maintains that the core business remains strong, but needs a reset after Gigapower’s apparent failure to manage its relationships with its three host communities. He points out that the client did not pay for the work Tilson performed, materially changing Tilson’s revenue expectations.
“We have already taken steps to realign our cost structure with the needs of our go-forward business and are now using Chapter 11 to complete our balance sheet restructuring as efficiently and effectively as possible,” Ingram explains.
Tilson has filed a number of First Day motions with the Bankruptcy Court seeking approval to support its operations during the Chapter 11 process, including paying employees without interruption.
The company expects to receive approval of these motions in the coming days and intends to pay vendors and suppliers in full for goods and services provided on or after today’s filing in accordance with the Bankruptcy Code.
By John Celentano, Inside Towers Business Editor
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