Electric scooter company Bird files for bankruptcy
Electric scooter company Bird has filed for bankruptcy in the U.S.
The company announced on Wednesday that it commenced a voluntary Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the Southern District of Florida.
The filing is supposed to give the company a chance to restructure and, ultimately, sell off its assets.
Bird, one of the electric scooter companies allowed to operate in Dallas, says it will continue to "operate as usual" during the process.
The company went public in late 2021.
Dallas tried allowing scooters, inlcuding Bird, in 2018 but ended up banning them in 2020 because of safety concerns. The city made a series of adjustments and restrictions in order to allow the rentable scooters back on the street in May 2023.
Bird says it hopes to complete the sale process in the next 90 to 120 days.