• Fisker is closing down its Manhattan Beach headquarters, three sources told Business Insider.
  • The company has warned multiple times it might run out of money and could file for bankruptcy.
  • Fisker has also gone through a number of layoffs over the past few months.

Fisker has begun to close its Manhattan Beach office, the site of the company’s headquarters, three company sources told Business Insider.

Last month, the electric carmaker began telling workers at the office in Manhattan Beach, California, that they would be moved to the company’s site in La Palma, California, by May 1, according to three workers with knowledge of the change.

Some workers were told to collect their belongings from the Manhattan Beach office in preparation for the move, the sources said.

The two facilities are located about 25 miles apart in California. Fisker began leasing the 73,000-square-foot office space in 2020. The La Palma site had been initially set up as a research and development space.

Fisker began leasing the Manhattan Beach office space in 2020. Foto: MediaNews Group/Long Beach Press-Telegram via Getty Images

A spokesperson for Fisker declined to comment and a spokesperson for Continental Development Corporation, the company that leases out the office space, did not immediately respond to a request for comment ahead of publication.

The move comes as Fisker faces headwinds from a slowdown in the EV industry. The carmaker has warned multiple times over the past few months that it might run out of money and could file for bankruptcy within the year.

On April 23, Fisker said in the regulatory filing that it had just $54 million in cash equivalencies as of April 16 and “believes that its available liquidity will not be sufficient to meet its current obligations.”

Fisker has said it is looking for additional funding or a potential buyer. In April, Fisker CEO Henrik Fisker told staff during an all-hands that the company was in talks with four different automakers regarding a potential acquisition.

The company has initiated a series of layoffs over the past few months and warned workers on April 29 that they could be laid off and Fisker’s “facility will close” in two months if the automaker is not able to change its course.

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Read the original article on Business Insider