Recently wave of breaches in the car industry in the United States he highlighted the financial problems many companies were facing. As the economic landscape changes, some iconic brands have been unable to adapt, forcing them to file for Chapter 11 protection. Bankruptcy Law.
According to the media The Street, Fisker Group, known for focusing on electric vehicles, announced in bankrupt on June 18, 2024. This decision was the result of it several macroeconomic factors that have affected the automobile industry in general. he is manufacturer in Manhattan Beach, Californiamentioned to the portal that the pressure in the market and the problems in the supply chain had contributed financial collapse.
Despite being a pioneer in the electric vehicle sectorlack of flexibility and strong competition brought the company to a critical point. In addition, Fisker’s situation is not unique. Wheel Pros, an auto parts distributor and retailer known for its brand Hoonigan filed his own bankruptcy petition on September 9. Intended to eliminate millions of dollars in debt, this restructuring aims to provide new capital. The company faces an extremely competitive market and, like many others, was caught in a spiral of ever-increasing debt.
In contrast, Stanley Oil & Lubricants filed for bankruptcy on September 17after having legal problems. A judge had issued a preliminary injunction freezing its assets and halting certain business operations, following a lawsuit by General Petroleum GmbH, a German competitor. This legal measure not only hinders Stanley’s business activities, but also complicated their already precarious financial situation.
The dispute between Stanley Oil and General Petroleum going back to the 2019 agreement, which ended with a series of accusations about trademark infringement and unfair competitiondetails of the mentioned media. The court ruling for General Petroleum It left Stanley in a vulnerable position, which prevented the company from maintaining normal operations.
