Nikola Considers Bankruptcy, Capping EV Maker's Wild Ride
Industries
Transportation
Electric truck maker has struggled with numerous scandals
The company says it is looking at 'financial restructuring'
Nikola Corp. is exploring a possible bankruptcy filing, according to people familiar with the matter, following a tumultuous period in which the electric truck maker has swung between stock-market darling and scandal-plagued enterprise.
The company is working with a law firm and financial advisers to prepare the potential Chapter 11 filing, which would protect it from creditors amid a cash crunch, the people familiar said, asking not to be identified because they are not authorized to discuss the matter publicly. The plans aren't final, and could change, the people said.
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