Canoo's Struggle Comes To An End

EV startup Canoo files for bankruptcy and ceases operations
Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will "cease operations immediately." The company is liquidating its assets in a Chapter 7 proceeding in the Delaware Bankruptcy Court.
EV Startup Canoo Files For Bankruptcy After NASA, USPS, Walmart Partnerships Bear Little Fruit
Tony Aquila, chairman and CEO, expressed deep disappointment over the Canoo closure after failing to gather sufficient capital.
Canoo's Struggle Comes To An End As It Files For Bankruptcy
In fact, the situation is so bad, on Friday, the company announced it’s voluntarily filed for relief under Chapter 7 in the Bankruptcy Court of Delaware. According to a media release shared by the company,
EV Maker Canoo Files for Chapter 7 Bankruptcy
Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to creditors.
EV company Canoo announces bankruptcy, closure
Canoo filed voluntarily under Chapter 7 of the U.S. Bankruptcy Code, which liquidates the company’s assets and distributes the proceeds to its creditors. It estimates its assets at US$126 million, but it owes more than US$164 million to its creditors.
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EV startup Canoo files for bankruptcy in US
The move comes as the company failed to obtain support from the US Department of Energy's Loan Program Office.
EV startup Canoo has filed for bankruptcy
Canoo announced yesterday it is ceasing operations “immediately” and that it has filed for Chapter 7 bankruptcy in Delaware.