Fisker hires advisor to prepare for possible bankruptcy filing

Electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company has hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential bankruptcy filing, according to the report.

Fisker declined to comment.

According to CNN, Fisker’s stock price fell more than 40% in after-hours trading after the report was published. Overall, the stock is down more than 80% since the start of 2024.

Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer.

Nissan was in advanced talks to invest in Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck, Reuters reported earlier this month, citing two people familiar with the negotiations.