Bankrupt battery maker Northvolt AB will continue to operate in Sweden with a staff of 1,700 while its remaining employees will be laid off.
March 31, 2025Bankruptcy News Updates
Northvolt Cuts Workforce to 1,700 as Part of Bankruptcy
Yellow Creditors Push Plan to End Bankruptcy Case
Creditors of defunct trucking firm Yellow Corp. will submit their own plan in coming days on how to split up the company’s remaining $550 million of cash and end its bankruptcy case.
March 17, 2025Nikola’s Bankruptcy Sale Nears Critical March 17 Deadline
If no suitable bids arrive by the stalking horse deadline, court documents indicate that an auction will take place April 7. The court said it would make public the results on April 10.
March 14, 2025Court Nixes Teamsters’ WARN Claims Against Yellow
Judge Craig Goldblatt on Feb. 26 found Yellow to be a “liquidating fiduciary,” rather than an employer, at the time it laid off unionized employees.
February 28, 2025Nikola’s Collapse Puts SEC’s $80 Million Claim at Risk
The SEC ranked No. 1 on the roster of largest unsecured creditors when Nikola, a failed maker of EV trucks, sought court protection on Feb. 19, with the regulator owed about $80 million.
February 20, 2025Proficient Q4 Revenue Slumps 15.9% on Weaker Margins
Proficient — the No. 4-ranked auto transporter — expects industry dynamics to improve in 2025, including through a reduction in carrier capacity due to the travails of Jack Cooper Holdings.
February 14, 2025Auto Hauler Jack Cooper Shuts Down After Losing Ford, GM
The dominoes started to topple when automaker Ford decided in January to end its relationship with Jack Cooper, bringing the curtain down on an approximately 40-year relationship.
February 14, 2025Wheel OEM Accuride’s US Operations Emerging From Bankruptcy
Accuride’s U.S. and Canadian businesses filed for Chapter 11 bankruptcy protection in October with liabilities of between $500 million and $1 billion.
February 10, 2025Northvolt’s Bankruptcy Deals $531M Blow to Swedish Investors
Sweden’s state-owned pension investors, collectively known as the AP Funds, have fully written down their entire investment in bankrupt battery maker Northvolt AB.
February 10, 2025Nikola Considers Bankruptcy, Capping EV Maker’s Wild Ride
Nikola Corp. is working with a law firm and financial advisers to prepare a potential Chapter 11 filing, which would protect it from creditors amid a cash crunch.
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