Fisker may seek bankruptcy protection in 30 days if unable to meet debt obligations

📆 4/23/2024 12:42 PM
📰 YahooFinanceCA

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Debt Obligations News

Fisker,Adequate Relief,Interest Payment

The cash-strapped EV startup said it had failed to make an interest payment of about $8.4 million on some notes due in 2026 during a 30-day grace period...

- Fisker may have to file for bankruptcy protection within 30 days if it does not get adequate relief from its creditors and enough liquidity to meet its current debt obligations, it disclosed in a regulatory filing on Tuesday.

The startup has been facing mounting uncertainty after talks with a large automaker for a potential investment collapsed last month, forcing it to look for options including in- or out-of-court restructurings and capital market transactions. The EV startup said on Tuesday it plans to further reduce its workforce and streamline its operations, including reducing its physical footprint.

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