A bit of a heist ? State subsidies, and now protection from creditors?
Where’s all the money ?
Ultimately, I’d guess they had no order book, despite the name dropping USPS and NASA all over the place. If you’ve got government orders, you have no problem financing increased production.
That’s the standard way a company goes through bankruptcy. Unless the executives overpaid themselves or otherwise extracted money from the company, that’s just the way it goes with a startup that fails.
A bit of a heist ? State subsidies, and now protection from creditors?
Where’s all the money ?
Ultimately, I’d guess they had no order book, despite the name dropping USPS and NASA all over the place. If you’ve got government orders, you have no problem financing increased production.
That’s the standard way a company goes through bankruptcy. Unless the executives overpaid themselves or otherwise extracted money from the company, that’s just the way it goes with a startup that fails.