By William Maley
Staff Writer - CheersandGears.com
April 10, 2013
It seems the end is close for Fisker. Reuters is reporting that Fisker could be filling for Chapter 11 bankruptcy this week due to pressure of the U.S. Department of Energy who want the company to pay back nearly $200 million in government loans.
A source tells Reuters that Fisker's lawyers have drawn up the documents needed to file for bankruptcy, and are ready to go within the next few days.
Fisker and the Department of Energy's relationship has been strained over the past few months due to missing milestones for the loans, not building any vehicles since last summer, and number of other problems. The company has been has been trying to renegotiate terms of a payment due on April 20th with the Department of Energy. However, the Department of Energy said enough was enough and is pushing Fisker in bankruptcy.