The company was once valued at $2.5 billion.
MIAMI — Bird, the electric scooter rental company once valued at $2.5 billion, said Wednesday it has filed for Chapter 11 bankruptcy protection in Florida federal court.
The Miami-based company announced it has entered into an agreement that sets a floor on the value of the company with its existing lenders, and that it will use the bankruptcy proceedings to sell off assets. The company said it will operate as normal during the bankruptcy proceedings.
Bird launched in 2017 as electric scooters exploded in popularity, billed as convenient and environmentally friendly alternative to driving or using
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