Fisker
About Fisker
Fisker Inc filed for Chapter 11 bankruptcy on June 18, 2024. Founder Henrik Fisker had previously founded Fisker Automotive, which filed for bankruptcy in 2013. Fisker Inc had gone public via SPAC in 2020 at a 2.9 billion valuation. The company produced approximately 10,000 Ocean SUVs but faced software bugs, quality issues, and declining demand. Customers reported loss of power steering and brake failures. Fisker paused production in March 2024. The company was unable to secure additional funding. The double bankruptcy of Henrik Fiskers companies was unusual. The case illustrates the difficulty of launching a new automotive brand and the risks of the SPAC approach for capital intensive industries.
Related Entries
Lehman Brothers
Lehman Brothers filed for Chapter 11 bankruptcy on September 15, 2008, the largest bankruptcy filing...
Enron
Enron filed for bankruptcy on December 2, 2001, with 63.4 billion in assets, then the largest bankru...
WorldCom
WorldCom filed for bankruptcy on July 21, 2002, with 107 billion in assets, surpassing Enron as the ...
General Motors
General Motors filed for Chapter 11 bankruptcy on June 1, 2009, with 82.3 billion in assets. GM was ...