Canoo (GOEV) announced Friday that it has filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code. The filing, made with the U.S. Bankruptcy Court for Delaware, will result in the federal appointment of a Bankruptcy Trustee to oversee the liquidation of the Company’s assets and the distribution of proceeds to creditors. As a result of this filing, Canoo regrets to inform all stakeholders that it will cease operations effective immediately. A court appointed trustee will manage the liquidation of the company’s assets and team will collaborate closely with the Delaware Bankruptcy Trustee to assist with the process.
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