Troubled EV Maker Fisker Said To Shut Down California HQ And Relocate Some Staff As Bankruptcy Clock Ticks
Portfolio Pulse from Anan Ashraf
Fisker Inc. (NYSE:FSRN) is reportedly closing its Manhattan Beach headquarters and relocating employees to its La Palma site amid financial struggles and potential bankruptcy. The company has warned of bankruptcy if it cannot secure waivers from debt holders or raise sufficient capital. Despite this, Fisker continues to expand its dealer network, adding six new locations recently.
May 07, 2024 | 11:56 am
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Fisker Inc. is relocating its headquarters due to financial difficulties, with potential bankruptcy on the horizon. The company's cash reserves are low, but it is still expanding its dealer network.
The relocation of Fisker's headquarters and the potential bankruptcy signal significant financial distress, likely leading to negative investor sentiment in the short term. However, the expansion of the dealer network indicates efforts to improve the situation, but the immediate financial concerns are likely to overshadow this positive aspect.
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