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Lilium's German Subsidiaries to File for Insolvency Following Failure to Gain Government Funding
The funding chain broke, and the German flying taxi company (LILM.US) filed for bankruptcy.
German flying taxi company Lilium NV (LILM.US) stated in a document that its two main subsidiaries will file for bankruptcy in the coming days.
Lilium: Directly Impacted by the Filing Are Lilium GmbH and Lilium EAircraft GmbH >LILM
Lilium: Move Follows Government Approval Process for Loan From KfW, Which Failed in the Budget Committee of the German Parliament >LILM
Lilium Says Principal German Subsidiaries Will Apply For Self-Administration Proceedings In Next Few Days With Competent Court In Germany; Proceedings Driven By Insolvency At Lilium Subsidiaries In Germany