Lordstown Motor’s bankruptcy makes life harder on the upstart automakers still standing — but this hot glare of reality is exactly what the market needs.
As Lordstown Motors officially files for bankruptcy, the company also filed a complaint against Foxconn.
ELMS produced the Urban Delivery electric van, one of the first light-duty, fully electric vehicle meant for contractors, delivery workers, and more. On June 12, ELMS announced its plans to file for Chapter 7 bankruptcy.
The new bid values Hertz at $6.2 billion and would pay unsecured bondholders in full.
Hertz Global Holdings has considered selling it’s Donlen leasing business if it can get at least $1 billion and has several buyers interested in the fleet management company, chiefly private equity funds, according to a report from Bloomberg.
All of Hertz's businesses globally remain open. International operating regions including Europe, Australia, and New Zealand are not included in the bankruptcy, nor are Hertz's franchised locations.
Following its Chapter 11 bankruptcy filing, Sears Holdings Corp. plans to close another 142 stores by the end of the year, and Edward Lampert will step down as chief executive but remain chairman.
Scandal-plagued automotive supplier Takata has filed for bankruptcy protection in the wake of the largest recall in U.S. history. So what comes next? Video courtesy of Bloomberg.
BREA, CA - American Suzuki Corp. plans to discontinue new auto sales in the continental U.S. and transition its business to provide parts and service through its dealers. The company is filing under chapter 11 to restructure its business so it can focus on its other divisions.
ROYAL OAK, MI - Saab Cars North America (SCNA) announced it has chosen an out-of-court resolution for its operations. The automaker has selected financial advisor McTevia & Associates to direct the process.
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