Jump to content
Create New...

Karma News: Fisker Furloughs Workers, Hires A Bankruptcy Law Firm


William Maley

Recommended Posts

By William Maley

Staff Writer - CheersandGears.com

April 1, 2013

Just when you think the news about Fisker couldn't get any worse, it has. Last Thursday, Reuters learned from a source that Fisker has hired the law firm of Kirkland & Ellis to advise on a possible bankruptcy filing. The source says the company is “considering bankruptcy while it pursued alternatives.”

Fisker has also furloughed its U.S. work force this week to preserve cash.

Last month has been tough on Fisker as the company saw its founder and chairman, Henrik Fisker resign due to "several major disagreements" with top management. It also saw its efforts to find a investor erode away as Geely and Dongfeng dropped their bids due to the terms of the Department of Energy loans Fisker has. Sources say chief executive Tony Posawatz, visited China last week to try to rekindle those deals.

The bad news doesn't stop there though. Fisker has a payment due to the Department of Energy on April 22nd. Fisker isn't saying how much the payment is, but judging from these moves.

Source: Reuters

William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster


View full article

Link to comment
Share on other sites

Fisker is all show. No technology, no intellectual property, no innovation--just off-the-shelf components in an attractive looking body. Compare that to Tesla, which sold more Model S's than GM sold Volts in the month of March. Not bad for a company that only started making its own cars less than a year ago.

Link to comment
Share on other sites

This will be interesting to watch as I expect this company to be gone by summer, but the technology in one form or another will live on. The EPA requirements and the new tussle between China and the US over China Tech purchases will make this a hard sell I think now.

I am also not sure that any American company would want to buy this up any longer compared to building their own solution in house. I am finding little of value now in this company.

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search