Proactive Investors - Fisker Group, which earlier this week announced that it has filed for Chapter 11 bankruptcy protection, said on Wednesday that additional US units have also filed for bankruptcy in a court in Delaware.
The electric vehicle maker’s US subsidiaries including Fisker Inc (NYSE:FSR) have entered into Chapter 11 protection, it said.
Fisker added that its discussions regarding the sales of its assets remain ongoing.
Per the bankruptcy filing, Fisker Inc (NYSE:FSR) listed estimated assets between $500 million and $1 billion and liabilities between $1 million and $10 billion. It estimated the number of creditors to be between 200 and 299.
Fisker first raised concerns about its ability to continue its operations in February and in March it paused the production of its flagship Ocean EV while it pursued a rescue deal with a large automaker.
Trading of the company’s shares was suspended later that month after the rescue deal fell through and Fisker told investors it would consider strategic alternatives including in or out-of-court restructuring, capital market transactions, repurchases, and equity issuances.