The electric scooters available for rent in Rockford, Ill., aren't expected to fly the coop just yet as the company that owns them files for bankruptcy, the Rockford Register Star reported. Electric transportation company Bird announced on Dec. 20 that it has filed for chapter 11 protection in the Southern District of Florida as part of a plan that began earlier this year with the appointment of new leadership. "We are making progress toward profitability and aim to accelerate that progress by right-sizing our capital structure through this restructuring," Bird CEO Michael Washinushi said in a release. "We remain focused on our mission to make cities more livable by using micro-mobility to reduce car usage, traffic, and carbon emissions." Washinushi added that Bird will operate as usual and uphold its commitments in partner cities while the company is restructuring. When Bird landed in Rockford in 2021, locals took more than 20,000 rides in the first six months, and they continue to use them for recreation and everyday transportation. What happens after Bird emerges from chapter 11 is not known. The court will supervise the sale of the company's assets and oversee a bidding agreement with its lenders. In the interim, Bird has secured $25 million in new debtor-in-possession financing from MidCap Financial.
