Tel Communications Inc. and ClearPoint Communications Inc. have rung up $10 million in debt over the past two years, according to the petition filed by their parent. The companies sold telecommunications services and prepaid phone cards.
FDN officials concede in their petition they missed the changing signals for demand in the telecommunications industry. They maintain the debt load of the subsidiaries will not affect the six-employee parent firm which plans to continue selling telecom services and phone cards, according to the petition.
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