Micro-Mobility Group Bird Enters Chapter 11 Bankruptcy Protection in the US

The micro-mobility group Bird has announced it's entering Chapter 11 bankruptcy protection in the US. It says the 'financial restructuring process is aimed at strengthening its balance sheet and better positioning the company for long-term, sustainable growth'.

Bird will operate as usual during this process, maintaining the same service for its riders and upholding its commitments to partner cities, fleet managers, and employees.

Bird Canada and Bird Europe are not part of the filing and will also continue to operate as normal.

The company will use the court-supervised process to facilitate a sale of its assets.

During and after the restructuring process, Michae Washinushi will continue as Interim CEO.

Washinushi, states: "This announcement represents a significant milestone in Bird's transformation, which began with the appointment of new leadership early this year. We are making progress toward profitability and aim to accelerate that progress by right-sizing our capital structure through this restructuring. We remain focused on our mission to make cities more livable by using micromobility to reduce car usage, traffic, and carbon emissions."

Since its inception, Bird riders have traveled over 300 million miles globally, offsetting an estimated 90 million pounds of carbon emissions from avoided car trips.