STN IN RECEIVERSHIP
By Adnews Staff
Another victim has been claimed in the long distance phone wars. Reseller STN Incorporated was forced into receivership this week. The company's 220,000 customers will continue to receive long distance service while the court appointed receiver, KPMG Peat Marwick Thorne of Toronto, looks for a buyer. STN also owns two DMS-250 digital telephone switches. The company was forced into receivership by one of its major creditors, U.S.-based phone company LCI International. Another major creditor is Warburg Pincus Captial Co. Advertising for STN is done by McBrain Sharp of St. Catharines, Ont. STN launched a campaign in January promoting its Talk Around The Clock service which allowed long distance calls for the same price any time of the day or night.