Electrical automobile startup Fisker has employed restructuring advisers to help with a potential chapter submitting, the Wall Road Journal reported on Wednesday, citing folks acquainted with the matter. The corporate has employed monetary adviser FTI Consulting and the regulation agency Davis Polk to work on a possible chapter submitting, based on the report.
Fisker declined to remark.
In accordance with CNN, Fisker’s inventory worth fell greater than 40% in after-hours buying and selling after the report was printed. Total, the inventory is down greater than 80% because the begin of 2024.
Earlier this month, Fisker flagged going-concern dangers, job cuts and a pause in investments into future initiatives till it secures a partnership with a producer.
Nissan was in superior talks to spend money on Fisker in a deal that might present the Japanese automaker with entry to an electrical pickup truck, Reuters reported earlier this month, citing two folks acquainted with the negotiations.