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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 -
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
