Fisker hires bankruptcy team after losing founder

Last month, Fisker Automotive’s executive chairman, Henrik Fisker, resigned from the company. Now the electric-car maker is preparing for a potential bankruptcy.

The company hasn’t built any new cars in the past 8 months, when their battery-supplier, A123 Systems, itself went bankrupt.

Now, after sending their U.S. workers on unpaid leave, Fisker Automotive has hired a law firm for a potential bankruptcy filing, according to Reuters.

Earlier, Fisker had its government loans frozen because of its failure to meet certain production mandates. After that, Fisker was attempting to sell to either of two Chinese companies, Dongfeng or Geely, who have both been driven away now by Fisker’s loan terms with the government. It also didn’t help that Fisker lost 320 showroom-ready cars in Hurricane Sandy late last year, and were having trouble getting the entire loss covered by insurance.

While there is still the slightest glimmer of hope for the only company that sells proper electric cars in the UAE, it remains to be seen what the near future holds for the company that’s lost its namesake.