Official: Fisker Is Dead, And It's Not Entirely Justin Bieber's Fault

After not building a single car in 18 months, beleaguered Californian car maker Fisker Automotive has filed for Chapter 11 Bankruptcy. Fisker has been plagued with setbacks in recent years, including its battery supplier going bust, the destruction of 338 of its Karma plug-in hybrids courtesy of Hurricane Sandy, and Justin Bieber owning one of its cars. It was already looking dicey for the company earlier in the year when 75% of its workforce was laid off. The bankruptcy is designed to facilitate the sale of Fisker to the newly-created Hybrid Technology LLC investment group.Fisker Automotive's Chief Restructuring Officer, Marc Beilinson, said:

After having evaluated and pursued all other alternatives, we believe the sale to Hybrid and the related Chapter 11 process is the best alternative for maximizing Fisker Automotive's value for the benefit of all stakeholders

So this might not be end of the story, just yet...