Electric scooter company Bird files for bankruptcy
Publishing timestamp: 2023-12-20 14:40:55
Summary
Electric scooter company Bird, once valued at $2.5 billion, has filed for Chapter 11 bankruptcy protection. The company plans to use the bankruptcy proceedings to facilitate the sale of its assets within the next 90 to 120 days. Bird's electric scooters were popular before the pandemic, but the company struggled to recover as customers stopped riding during lockdowns. The company's shares were delisted from the New York Stock Exchange and are now trading at less than $1 per share. Bird Canada and Bird Europe are not part of the bankruptcy filing and will continue to operate normally.
Sentiment: MIXED
Tickers: BRDS,
Keywords: internet, business news, technology, bird global inc, breaking news: technology, enterprise, bankruptcy figures,
Source: https://www.cnbc.com/2023/12/20/electric-scooter-company-bird-files-for-bankruptcy-.html