
Fisker Inc. allegedly prepares for bankruptcy
The Wall Street Journal reports that Fisker Inc., an American electric vehicle company with Danish Henrik Fisker at the helm, may be facing imminent bankruptcy. According to sources familiar with the matter, the company has engaged FTI Consulting and law firm Davis Polk to advise on a potential bankruptcy claim. Neither Fisker Inc. nor FTI Consulting has commented on this information, and Davis Polk has not immediately responded to inquiries from the Wall Street Journal. The company has warned of a potential cash shortfall this year, is seeking funding from investors, and is scouting for a U.S. manufacturing partner. February reports indicated that the company amassed sales of $273 million against a debt exceeding $1 billion. Fisker has competed with Tesla in the more affordable electric car segment but has seen a massive stock decline, including a 46% drop after the initial report from the Journal.