Fisker, a new US car manufacturer, files for bankruptcy

According to reports, Fisker, a new American car manufacturer, filed for bankruptcy protection earlier this week. The company's cash flow was accelerated due to the breakdown of transaction negotiations with a major automaker. Fisker Group Inc has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code, with estimated assets of between $500 million and $1 billion and liabilities of between $100 million and $500 million. Currently, Fisker's only model in production is the pure electric SUV Ocean.