Bird may come crashing down

After withdrawing from Germany and other countries, the US bike & scooter rental company Bird announced that its sales for the last two years were overstated due to incorrect bookings. A bankruptcy filing cannot be ruled out.

bird-rides-e-tretroller-electric-kick-scooter-2019-001-min — Image: Bird Rides

In terms of specific numbers, Bird closed out the third quarter of 2022 holding $38.5 million in free cash flow. Without additional funding, the company says that it would be unable to meet its obligations over the next year.
techcrunch.com, cloudfront.net (PDF)