By Ben Geman - 03/29/13 09:39 PM EDT
Troubled car maker Fisker Automotive, the plug-in hybrid manufacturer that has drawn $192 million in Energy Department loans, could be on the verge of bankruptcy.
The Los Angeles Times reports:
Unless its celebrity customers such as teen idol Justin Bieber and actor Leonardo DiCaprio want to put a lot of their own cash into the business, it looks like hybrid sports car company Fisker Automotive is nearing the end of the road.
Fisker has hired Kirkland & Ellis, a major bankruptcy law firm, to review the company’s options while it continues to seek investment partners.
Check out the whole story here.