Fisker prepares for possible insolvency

After the financially troubled electric car manufacturer Fisker recently warned that it may not be able to continue operations, the company is now preparing for possible insolvency, according to a US media report.

Image: Fisker

As the Wall Street Journal claims to have learnt from insiders, Fisker has hired restructuring consultants to help with a possible insolvency filing. Specifically, the financial advisor FTI Consulting and the law firm Davis Polk have been commissioned to work on a possible application, according to the report.

Following the WSJ report, Fisker stated in an e-mail: “In accordance with company policy, Fisker does not comment on market rumour and speculation. However, Fisker frequently works with external advisors to help the company manage its business and assist in the development and implementation of strategies.” Fisker is focused on raising additional capital and entering into a strategic partnership with a major automotive manufacturer. The company also continues to pursue a transition to a dealer partnership model in both North America and Europe.

The major car manufacturer with which Fisker is negotiating an investment is reportedly Nissan. According to a Reuters report from the beginning of the month, negotiations between Nissan and Fisker are at an advanced stage and the deal “could be finalised this month”, the news agency said, citing insiders.

Just a few days earlier, Fisker had questioned its own future, although this was a mandatory disclosure for listed US companies if there is insufficient liquidity for the next twelve months without further financing.

1 Comment

about „Fisker prepares for possible insolvency“
18.03.2024 um 14:00
After Nissan’s announcement with Honda it seems Fisker’s last life line may have passed. After insolvency Fisker is a brand Tata should consider to compliment House of Brands under JLR. With Jaguar moving up scale and Defender & Discovery as premium brands, Fisker could be positioned more as a volume or brand. With their shared relationship with Magna Steyr it seems like a natural fit.

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