Electric Last Mile Solutions Reaches Its Last Mile: Chapter 7 Bankruptcy

Article continues below advertisementHow did the EV startup ELMS wind up underwater? Here are the details of this troubled journey, from insider tr...

June 19, 2022
4:50 AM

Article continues below advertisementHow did the EV startup ELMS wind up underwater? Here are the details of this troubled journey, from insider trading to a funding desert.What is Chapter 7 bankruptcy?Oftentimes, when you hear about a company filing for bankruptcy, it may refer to Chapter 11 bankruptcy which allows the company to reorganize and operate while repaying creditors. Chapter 7 bankruptcy is different.Chapter 7 bankruptcy requires companies to liquidate and sell most of their assets in order to pay back creditors.

Rachel Curry