13 Comments

Summary:

Fisker’s landlord has filed a suit that says the electric car company has to pay its April rent or evacuate its headquarters. The company seems to be getting ever closer to bankruptcy.

Ray Lane's Fisker Karma

The landlord of electric car startup Fisker Automotive has filed a lawsuit this week that alleges that Fisker has to pay its April rent on its property in Anaheim, California or leave the premises. In a lawsuit filed in the Superior Court in Orange County, California (embedded below) on April 10, landlord WWG Canyon Corporate Owner says that Fisker owes it $174K for rent for the month of April.

Row of Fisker Karmas

Row of Fisker Karmas

The landlord says Fisker has 5 days to pay or they’ll be evicted. Fisker entered into the lease on December 10, 2010. According to Reuters Fisker could declare bankruptcy as soon as this week. If Fisker isn’t paying its bills, it certainly looks to be getting closer to filing BK. The company laid off 75 percent of its staff last week and was then served with a class action lawsuit for allegedly failing to give those employees 60 days (the WARN Act).

Fisker’s founders have also been asked to attend a hearing on April 24 in Washington D.C., organized by House Republicans. Fisker drew down on close to $200 million in a government loan from the Advanced Technology Vehicle Manufacturing Program. Fisker also raised $1.2 billion in funds over the company’s five and half year lifetime. Fisker was backed by venture firms Kleiner Perkins (Ray Lane was a board member) and NEA, and worked with now-defunct broker Advanced Equities.

  1. Stephanie Brooks Saturday, April 13, 2013

    Turn a Fisker into a time machine and make a movie about it.

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  2. So why doesn’t another automotive company simply buy Fisker up, and continue with their technology and the awesome cars. This would give say GM who was leading the electric vehicle race until they killed the electric car they first created.

    This would also give them a truly luxury brand that is all electric.

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    1. One of the problems with Fisker is that Ive heard they dont own a lot of the technology that goes into the cars, they use technology from suppliers, so they dont have a lot of IP assets. The value was in the design and the people, but with layoffs, founder left, the people assets are dwindling.

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      1. They have a lot of IP assets but they are already shipped to VL. This is take over.

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    2. “Another company” will buy Fisker up, after someone is done with 1.sending home investors, pretending there are no IP assets to buy, 2. sending home all employees not willing to move to MI, 3. transferring all confidential dates to MI, 4. sending Fisker to bankruptcy, 5. moving back home to MI.

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    3. James Woodard Sunday, April 14, 2013

      Based on your other post on here, I’m assuming you want someone to purchase Fisker.
      Not worth it.
      They don’t have the original electronic engineers from Tesla, just great design from the legendary Fisker himself.

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      1. James Woodard Sunday, April 14, 2013

        Correction: Said electronic, meant -Talented & Epic electrical engineers who created the original Tesla Roadster, Martin & Marc.*

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        1. LOL!! Best joke ever.

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      2. Sure. Henrik draw the car and then sent by fax to Finland. There, they cut it out and assembled the car. Easy.

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        1. James Woodard Monday, April 15, 2013

          If it was that simple, then why did Elon Musk sue him for not producing that design for the original Tesla S when he hired Henrik?

          Better yet, who are those people in Finland who designed the Fisker?

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  3. @Wallcon, We’ll see in the bankruptcy filing. If those reports on chinese bidders were correct, they were valuing fisker at $200/$350M for 85% of the company. . . for a company that raised over $1.2B.

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    1. If just a few reports (especially in the US media) were correct, the company woudn’t be destroyed so easy. The car was too good to stay alive. We will see nothing, it’s done. Tony made his job.

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    2. If just a few reports (especially in the US media) were correct, the company woudn’t be destroyed so easy. The car was too good to stay alive. We will see nothing, it’s done. Tony made his job.

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