Fisker CEO puts up his house for sale to avoid bankruptcy

Fisker Inc. has formally notified its employees about impending job cuts and whole department shutdowns, but the company boss Henrik Fisker has gone a step farther and listed his luxury estate for sale in a last-ditch attempt to rescue the floundering business. It costs more than the company does, too.

According to Business Insider, the American automaker hired a director for restructuring who then e-mailed the entire staff about the impending layoffs. With the Fisker stock trading at five cents apiece and no salvation in sight, dissolution looks like a highly likely scenario. It’s not decided just yet, though.

Henrik Fisker’s two-story house is located in Hollywood Hills and is more than 1,000 square meters (10,700 sq. ft.) large. It features six bedrooms, eight bathrooms, a terrace with a swimming pool, a barbecue area and a fireplace. It also houses a spa, a wine cellar, a gym and a garage large enough for six cars.

The selling price is U.S. $35 million, which is more than the $24.97 million that Fisker Inc. costs right now, Teslarati reports. The troubled automaker continues looking for investors, but the shutdown of all operations is already planned on June 28, 2024. Unless the company finds adequate funding to stay afloat or manages to leverage its debts through proper restructuring, it has several weeks left to live.