Liabilities of 1.34 billion euros: Fisker Austria goes bankrupt

Liabilities (liabilities) were reported at 1.34 billion euros. According to KSV, assets amount to 959 million euros (book values) or estimated liquidation values ​​of 40.5 million euros (AKV) or 66.3 million euros (debt adjustment). This is the largest bankruptcy proceeding in Styria to date.

The high liabilities of Fisker GmbH, established in 2021, are likely due to liabilities to Fisker Group companies (“intercompany”), the debt holders said upon request. Around 615 lenders have been affected by insolvency. Currently 47 employees are working in this company. Fisker manufactures and sells electric vehicles powered by Magna-Steer vehicle technology.

Production of the Magna was discontinued

Fisker’s Austrian subsidiary primarily focuses on managing contract manufacturing in Graz. However, Magna stopped manufacturing the vehicle. Fisker originally planned to produce 40,000 cars a year at the Magna Cross, but only 10,000 have been built so far.

According to the debtor, the Company and the Fisker Group’s cash flows are funded centrally by Fisker US. Fisker US has recently run into a cash flow crisis. Fisker Austria must now reorganize and continue. The company offers a 30 percent provision to borrowers, payable within two years of accepting the restructuring plan.

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