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The court-appointed monitor for Lion Electric says the vehicle maker is very likely to be liquidated after the Quebec government refused to invest more public funds in the company.
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Jean-Francois Nadon, a representative of Deloitte, said in a court hearing this morning that government aid would have been a condition of any sale of the struggling company.
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Nadon says Deloitte sought offers over the weekend from companies interested in liquidating Lion Electric, and is hoping to finalize a transaction by next Monday.
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He says Lion laid off all but 12 of its employees after the government announced last Wednesday it would not inject any more public money into the Quebec-based electric-vehicle maker.
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News reports last week said a group of buyers was seeking $24 million from the province to relaunch the company, but the economy minister said it would be irresponsible to invest more government funds.
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Lion Electric, which made electric school buses and trucks, sought protection from its creditors in December and has been seeking a buyer since then.
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