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.The EV start-up, co-founded by Danish automotive designer Henrik Fisker, was once valued at $2.9 billion, but its bank […]
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