Nikola goes bankrupt amid cash burn, files for Chapter 11 bankruptcy protection; EV maker stock crashes to all-time low

Nikola said on Wednesday, February 19, it had filed for Chapter 11 bankruptcyprotection and would pursue a sale of its assets, the latest electric-vehicle (EV) maker to go bankrupt after grappling with tepid demand, rapid cash burn and funding challenges. In recent years, the EV truck maker has endured cash-flow issues, slow demand, short-seller allegations and an…

Boss of Sussex company is banned over cold calls

Callum Jones, 39, of Oban Road in St Leonards, was the sole director of Colourcoat Ltd, which specialised in roof cleaning, wall coating and insulation services.  Colourcoat made 969,273 unsolicited marketing calls between August 2019 and April 2020. A total of 452,811 of the nuisance calls were made to people who had opted out of receiving such calls…