Nikola files for Chapter 11 bankruptcy. EV stock nosedives.
Nikola (NKLA) shares plunged by over 50% on Wednesday after the electric vehicle (EV) maker was unable to raise funds or secure a buyer and filed for Chapter 11 bankruptcy. This comes over a year after Nikola founder and former CEO Trevor Milton was sentenced to four years in prison on fraud charges.
W hen you're facing increasing amounts of debt without a way to pay it off, the path forward isn't always clear. As a result, ...
There are many reasons why a company might be experiencing financial distress, including overwhelming debt, cash flow problems, substantial ...
Spirit Airlines says it expects to emerge from Chapter 11 reorganization bankruptcy “within weeks” after a US court approved its recovery plan.
Spirit Airlines is on track to emerge from Chapter 11 bankruptcy thanks to the private takeover of multibillion-dollar bondholders like Ken Griffin's Citadel Advisors.
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