(Reuters) – Electric vehicle startup Fisker, which filed for Chapter 11 protection earlier this week, said its U.S. units also filed for bankruptcy in a Delaware court on Wednesday.
Fisker Inc (OTC:) and its other US subsidiaries said they have entered Chapter 11, adding that discussions about selling assets are still ongoing.
According to the court filing, Fisker Inc. listed assets valued at between $500 million and $1 billion, while its liabilities were expected to be between $1 billion and $10 billion.
Fisker Group Inc., the company's operating unit, filed for Chapter 11 protection on Monday and said it would sell its assets and restructure its debt.
The company, which went public in 2020, was founded by car designer Henrik Fisker.
In February, it expressed doubts about its ability to continue operating and later failed to secure investment from a major automaker, forcing it to rein in operations.