Originally Posted by Fabulist
The complication is that BK-11 will wipe out all the existing investors, many of whom are on the board and the biggest one, Ray Lane, is chairman. So they will try everything else before resorting to BK.
Unless the investors are ready to pony up new monies, I can't see any alternative with little cash and no product to sell. They bet wrong, they hired wrong and did not put in contengency plans to deal with the risks -- that's what happens when management has no skin in the game.
If I was an investor, I would move to merge with VL-Automotive or VIA and take what I could get -- the slow role will be worse for the brand at this point and changing the name to Destino - V8 and Destino-EVER or VIA Karma would not be a bad way to re-make the brand with Lutz at the helm with either option.