Hyperoptic Warns of Going-Concern Doubt as KKR-Backed Broadband Firm Seeks to Refinance £98M Debt

Hyperoptic, the KKR-owned British broadband challenger, said it faces "material uncertainty" over its ability to remain a going concern and will need additional funding within 12 months, as it races to refinance more than £98 million of debt maturing at the end of November 2026. The company said refinancing talks are at an "advanced stage," but warned that failure to secure new backing would force it to pause its full-fibre rollout. Newly filed accounts show Hyperoptic's losses widened to £172 million from £144 million, with interest costs nearing £100 million — roughly three-quarters of its £139 million revenue. Total debt rose 12% to top £1 billion, and the firm has since drawn a further £44 million. Hyperoptic, which reaches just under two million premises, said it expects over £110 million in EBITDA for the next full year. KKR injected £71.6 million last year, and the National Wealth Fund has provided £150 million. The warning comes as Britain's alt-net sector faces consolidation, with Gigaclear seized by lenders and G Network entering administration.