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FTI Consulting serves as the financial advisor to Proterra, the electric vehicle parts supplier, that declared Chapter 11 on Aug. 7.
The Burlingame, CA company chalked up a $244M Q1 loss on $80M in revenues. With the reorganization, Proterra canceled its Aug. 9 earnings call.
CEO Gareth Joyce said while Proterra’s “best-in-class EV and battery technologies set an industry standard, we have faced various market and macroeconomic headwinds that have impacted our ability to efficiently scale all of our opportunities simultaneously.”
The Chapter 11 process will enable Proterra to separate each production line to maximize its independent potential, he said.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
Prosek Partners hires FTI Consulting vet David Roady to build and deepen its relationships in the corporate sector, particularly with chief communications officers and C-suite executives.
Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
