After months of teetering on the edge of collapse, Fisker has finally filed for bankruptcy. The American electric car start-up led by car designer Henrik Fisker stopped production of its only model, the Ocean, in March when it revealed that extra funding would be required to continue operations. 

Fisker’s operating arm, the Fisker Group, officially filed for bankruptcy in the USA on 17 June, after failing to find an investment partner to rescue the ailing operation. Despite hitting key production and launch date targets, Fisker was hit by softening demand for the Ocean and supplier issues. Fisker hoped to build more than 42,000 Ocean models in 2023 but ended up producing just 10,193. Fewer than half were delivered to customers.

Huge…

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New York (CNN) — This year was brutal for a number of well-known companies and their bottom lines.

As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim to changing trends or even more malicious ailments, like cyberattacks.

At least 19 companies have cut a combined 14,000 jobs because of bankruptcies, according to Challenger, Gray & Christmas, an outplacement services firm.

Notably, retail closures have picked up this year because the sector’s sugar high of 2021 and 2022 — when consumers were…

The U.S. retail brand Big Lots has announced Going Out of Business (GOB) sales across all its remaining locations. The decision comes after the company failed to finalize its planned asset purchase agreement with Nexus Capital Management. This move was initially expected to help the company recover its financial situation.

The retail chain is loved by shoppers for its low-cost furniture, home goods, and more. They officially filed for Chapter 11 bankruptcy in September 2024.

Big Lots is continuing to explore alternative deals with Nexus, and other buyers. However, the absence of a finalized agreement has made the retailer liquidate its…

It was revealed this week Roto Whare owes money to several Rotorua businesses, but the biggest debt of $28.2 million is to an American business, Florida-headquartered financier Quaestor Advisors LLC, of Jacksonville.

Details of what Roto Whare owed were revealed in the liquidator’s first report. Among Rotorua businesses out of pocket were Metal Line Roofing, Rotorua ITM, Davidsons, Design Tilers, Handon Heating, Sigma and Redwood Joinery.

In response to Rotorua Daily Post questions, Jacobson said the two projects – Ngongotahā and Koutū – were not related.

“Mountview was placed in liquidation because of financing issues … Mountview is close to completion, with most properties completed and sold. The issues at Mountview are specific…

The United States election was one of the most defining events in the crypto space in 2024. Specifically, the reelection of Donald Trump revived Bitcoin and the entire crypto market after an uninspiring second and third quarter.

One of the promises made by President-elect Trump in the run-up to the polls was the institution of a strategic Bitcoin reserve. Unsurprisingly, most of the recent crypto conversations has been around the BTC reserve and its potential impact on the US economy and the crypto landscape.

Why Should The US Establish Strategic Bitcoin Reserves?

CryptoQuant CEO and founder Ki Young Ju is the latest to weigh in on the issue of strategic Bitcoin reserves in the United States. In a post on the X platform, the…

• Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy.
• Biden’s new bankruptcy guidance, aimed at easing the process for borrowers, made that possible.
• Some attorneys told BI that the new guidance is a big help, but more outreach would be helpful.

Alrena Dale, 61, had her six-figure student-loan balance wiped out after decades of payments. She’s one of hundreds of borrowers who have received relief after new changes to the bankruptcy process.

Though Dale filed over five years ago, President Joe Biden’s new bankruptcy guidance, which streamlined the information she needed to provide in order to qualify for relief, was a turning point in her case.

In August 2023, Dale was finally…

On June 18, 2024, Houston bankruptcy judge Chris Lopez will decide if Diamond Sports Group has come up with the right restructuring plan to finally exit a Chapter 11 restructuring process that began in March of the previous year. 

Diamond Sports Group, the bankrupt Sinclair Broadcast Group subsidiary that manages the Bally Sports regional channels, seemed almost certain to face liquidation as recently as early January. 

Conspiracy theorist Alex Jones’ Infowars broadcasts could end next week as he faces a court-ordered auction of his company’s assets to help pay the more than $1 billion defamation judgment he owes families of victims of the Sandy Hook Elementary School shooting.

Or maybe not.

Both opponents and supporters of the bombastic internet show and radio host have expressed interest in bidding on the Infowars properties he has built over the past 25 years. They include Roger Stone, an ally of Jones and Donald Trump, and anti-Jones progressive media groups. If Jones supporters buy the assets, he could end up staying on Infowars.

Up for sale are everything from Jones’ studio desk to Infowars’ name,…