Electric vehicle start-up Fisker filed Chapter 11 bankruptcy protection on Monday after it suspended operations earlier this year.
Fisker’s stock plunged in March as investors worried about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce.
ABC News reported : Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers beyond the early adapters of the technology. Fisker Group Inc. said in a filing with the U.S. Bankruptcy Court in Delaware that its estimated assets are between $500 million and $1 billion. It estimated liabilities are between $100 million and $500 million, with between 200 and 999 creditors. “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability […]
– Read More: www.thegatewaypundit.com
