After a seemingly never-ending streak of financial misfortune, U.S.-based automaker Fisker Inc. has finally filed a formal bankruptcy application, Reuters reports. The company will be selling assets to settle the accounts with at least some of its creditors – out of a few hundred, that is.
In the bankruptcy statement, Fisker states its total financial liability as being “between 100 and 500 million USD”. It claims that its total asset valuation may reach as high as 1 billion USD, which in theory may be enough for a complete settlement.
For his own part, CEO and founder Henrik Fisker says he had studied all options and concluded that bankruptcy and sale of assets were the only viable way out of the crisis.