Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will "cease operations immediately." The company is liquidating its assets in a

Canoo Inc. has filed for voluntary relief under Chapter 7 of the U.S. Bankruptcy Code. This petition was submitted to the U.S. Bankruptcy Court for Delaware, which will appoint a Bankruptcy Trustee to oversee the liquidation of the company's assets and the distribution of funds to creditors.

Canoo announced yesterday it is ceasing operations “immediately” and that it has filed for Chapter 7 bankruptcy in Delaware. The EV startup estimates in its filing that its assets are worth $126 million and that it owes over $164 million to its creditors, TechCrunch noted yesterday.

Canoo Inc. has filed for Chapter 7 bankruptcy, marking the end of its operations. The filing was made with the U.S. Bankruptcy Court for Delaware, leading to th

Canoo has announced that, effective immediately, it will cease operations. The company will work closely with the appointed trustee to ensure an orderly liquidation of assets and the distribution of proceeds to its creditors.

Electric vehicle company Canoo has filed for Chapter 7 bankruptcy, citing an inability to secure federal loans or foreign investment.