Vicinity Motor (TSE:VMC) has released an update.
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Vicinity Motor Corp., a North American commercial electric vehicle supplier, has applied for a Management Cease Trade Order to delay its interim financial report amidst demands from secured creditors. The company is actively working to resolve its outstanding debt issues and intends to complete its financial filings by September 13, 2024. Meanwhile, Vicinity has laid off 55 employees across North America to conserve cash.
For further insights into TSE:VMC stock, check out TipRanks’ Stock Analysis page.
