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IPFS News Link • Manufacturing-U.S.A

Fisker stops production, warns it may need to seek bankruptcy

• Auto Blog

Fisker Inc. is pausing production for the next six weeks as the electric-vehicle maker looks to rein in inventory and avoid possibly having to file for bankruptcy.

The company didn't make a required interest payment of about $8.4 million last week on its unsecured convertible notes due in 2026, according to a regulatory filing Monday. Fisker warned it may not be able to meet obligations to service its debt and "could need to seek protection under applicable bankruptcy laws."

Fisker shares fell as much as 14% shortly after the start of regular trading. The stock had plummeted 90% this year through last week's close.

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