As newsauto has revealed, in front of the visible risks of bankruptcywithin 30 days, the Fisker! According to documents filed with the SEC, the automaker discloses its shortfall in cash reserves and the appointment of a restructuring chief.
In its annual Form 10-K, the Fisker reported missing a required interest payment worth $8.4 million. The automaker also wrote that it does not believe it has enough cash to cover its current liabilities for the next 12 months. Therefore, it exists “substantial doubt about its ability to continue as a going concern.”
“If she Fisker does not receive sufficient relief from its debt holders and additional sufficient liquidity from potential liquidity providers to meet its current obligations, expects to seek protection under applicable bankruptcy laws in multiple jurisdictions within 30 days of the issuance of these financial statements,” the company wrote in its filing.
At the same time, its share price Fisker began to plummet, driving in its delisting from the New York Stock Exchange, earlier this month. Despite efforts to attract investors and secure a financial rescue, the company faced increasing financial woes. With bankruptcy proceedings looming on the horizon, the options for Fisker are dramatically reduced.
