💥New Chapter 11 Bankruptcy Filing - Charge Enterprises Inc. ($CRGE)💥
EV charging infrastructure company filed prepack BK; Arena to own it.
On March 7, 2024, Charge Enterprises Inc. (the “debtor”) filed a prepackaged chapter 11 bankruptcy case in the District of Delaware (Judge Horan).
The debtor is an EV charging infrastructure company that provides location selection, engineering, installation, testing, and maintenance to EV charging sites (PETITION Note: Prior to Dec. ‘23, the debtor also had a telecommunications segment that routed voice, data, and SMS to cell carriers globally)..
This case marks the latest in a recent string of EV-related businesses to file some form of bankruptcy in the past few two years after Electric Last Mile Solutions, Lordstown Motors Corp., and Proterra Inc. did so last year. And it won’t be the last.