California-Based EV Maker Fisker Cruising Toward Bankruptcy

Published on April 25, 2024

California-based electric vehicle maker Fisker is running out of money and could file for bankruptcy in June. The company, based in Manhattan Beach, Calif., defaulted on a loan after failing to make a $8.4 million interest payment last month, according to Fisker’s year-end report to the Securities and Exchange Commission (SEC) filed April 23. “We have concluded there is substantial doubt as to our ability to continue as a going concern,” the company wrote in a filing with the SEC . If Fisker can’t get relief from its debt holders and sufficient funds to pay its debt, it expects to file for bankruptcy by mid-June, the company reported....

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