Fisker on the Brink of Liquidation: US Electric Car Start-up Faces Insolvency and Austrian Subsidiary Restructuring
Fisker, an US electric car start-up, is on the brink of liquidation following its bankruptcy filing. The company had initially planned to secure additional financing and continue operations on a reduced scale, but has now determined that obtaining the necessary funds is unlikely. As a result, Fisker is making preparations to sell off its assets.
Fisker’s stock is essentially worthless but is still being traded after failed negotiations with a major car manufacturer. The company’s Austrian subsidiary, Fisker Austria, is also facing insolvency and restructuring processes are underway in Graz. With liabilities amounting to 1.34 billion euros, Fisker Austria’s goal is to reach a restructuring agreement that entails a 30 percent repayment over two years.
Recent reports and hearings on the insolvency proceedings of Fisker Austria provided insight into the company’s financial situation. Of the 161 registered claims, more than 1.16 billion euros have been filed, with over 10.92 million euros recognized and 1.15 billion euros being disputed. The future of Fisker Austria heavily depends on the success of its restructuring efforts and the ability to attract an investor.
