Saturday, December 8, 2012
Fisker Automotive Hires Investment Banker, Seeks Buyer
Anaheim-based electric auto firm Fisker Automotive has hired investment banker Evercore Partners, and is now seeking possible buyers or investors--but also has reviewed the option of bankruptcy protection--according to a report from the Wall Street Journal. The WSJ says that Fisker is looking for investors in China and parts of Europe, but also has reviewed the possibility of a Chapter 11 filing. The move apparently comes as a result of the company halting production of its cars in July. Fisker has also been affected by the bankruptcy of battery supplier A123, which is in the process of being sold, and apparently is not currently shipping batteries. If A123 does not restart production, Fisker's automotibles apparently will disappear from dealer lots by spring. Last week, news of Fisker's effort to find a "strategic partner" was detailed in automotive publication.