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Bankrupt car company gets $10million lifeline but experts call the brand ‘as doomed as ever’ ...Middle East
A FORMER CEO has emerged as a life preserver after he bid $10million to take over a bankrupt car company. Steve Burns – the former CEO and founder of Lordstown Motors – bought the bankrupt truck producer’s assets. Lordstown MotorsLordstown Motors, the electric truck company once praised by former President Trump, may be purchased out of bankruptcy by a former founder[/caption] The transaction to Burns is “subject to a number of customary conditions,” according to a filing to the SEC. Lordstown Motors, an electric truck manufacturing company once praised by President Trump as “a great technology,” filed for bankruptcy in June. The company’s bankruptcy filing valued all asse
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