Fisker has surprisingly left its headquarters in Orange County, creating a chaotic situation that will require a significant sum of money to tidy up. Earlier this year, the company filed for Chapter 11 bankruptcy as the growth of electric vehicle (EV) adoption in the U.S. continues to wane. Under Chapter 11, courts usually manage the restructuring of businesses and their debts, allowing a struggling company to bounce back.
Unresolved Issues
Sadly, this doesn’t seem to be happening with Fisker. In a filing dated October 4th with the US Bankruptcy Court in Delaware by Shamrock Properties II, LLC, it was noted that the company’s owners and employees have become unreachable after the premises were handed back to Shamrock on September 27 in a state of chaos. Hazardous waste, tipped-over desks, and leftover belongings are scattered throughout the old headquarters.
Asset Sales and Ambiguities
It appears that Heritage Global Partners acquired some of Fisker's assets and informed Shamrock around September 12 of their purchase. The abrupt exit of Fisker’s owners and team from the property before September ended leaves a question about who is liable for the cleanup – is it Fisker or HGP? Shamrock has struggled to get in touch with either party for clarity on who will take care of the mess.
Fisker’s Chapter 11 filing earlier this year was prompted by the declining enthusiasm for EVs among consumers, which has led to a slowdown in EV sales in the U.S. Initially, there was optimism that Fisker EV owners would still be able to obtain parts and repairs while the company reorganized. However, with the abandonment of the headquarters, it seems owners are left to handle any vehicle problems themselves. Those who find themselves with a malfunctioning Fisker might consider using a more affordable self-balancing Segway for transportation (like this one on Amazon).
Case 24-11390-TMH US District of Delaware.
