Bird, Electric Scooter Company, Files for Bankruptcy and Seeks Financial Restructuring
Originally Published 2 years ago — by The New York Times
Electric scooter company Bird has filed for bankruptcy protection, signaling a decline in the once-promising sector of personal transportation. The company has secured $25 million in financing to continue operating and is considering a turnaround plan that may involve selling assets. Bird, which reached a billion-dollar valuation and went public in 2021, faced mounting losses and was delisted from the New York Stock Exchange in September. Other scooter start-ups, such as Micromobility.com and Tier Mobility, have also faced challenges. Bird's Canadian and European businesses are not affected by the bankruptcy filing.
