Tag Archives: Chapter 11

Faraday Future founder files for Chapter 11 bankruptcy

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Faraday Future founder Jia Yueting has filed for Chapter 11 bankruptcy in a bid to settle his exorbitant personal debts. The move is part of a larger recovery plan, and it's meant, in part, to regain credibility for Faraday Future. Though there's no...

A123 Systems becomes America’s latest EV battery maker to file for bankruptcy

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A123 Systems becomes America's latest EV battery maker to file for bankruptcy

Having been riddled with setbacks, including a major recall of faulty batteries supplied to Fisker Automotive, Michigan's favorite EV battery maker A123 Systems has filed for bankruptcy. It has also announced the sale of its main business units to rival Johnson Controls in a deal pegged at $125 million -- a sad fraction of the billion dollars it raised since it launched in 2001 (not least from government grants). It seems that neither fresh lithium ion innovations nor a potential deal with Chinese investors were able to keep the company out of the red, which leaves A123 on the road to nowhere -- right behind that other DoE-sponsored hopeful, Ener1.

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A123 Systems becomes America's latest EV battery maker to file for bankruptcy originally appeared on Engadget on Wed, 17 Oct 2012 06:22:00 EDT. Please see our terms for use of feeds.

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Kodak to sell the film business that made it so famous

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Kodak selling film business

Kodak is selling off its renowned film arm in order to revive its moribund fortunes. It'll join sales of the company's patent portfolio, online gallery, commercial scanning, photo kiosk and theme park businesses so it can concentrate on a not-yet successful printer enterprise. It needs to raise more than $660 million to pay back creditors before it can emerge from Chapter 11, which it aims to do early next year -- but not in any form that we're likely to recognize.

[Image Credit: MercerFilm]

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Kodak to sell the film business that made it so famous originally appeared on Engadget on Fri, 24 Aug 2012 05:29:00 EDT. Please see our terms for use of feeds.

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