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.
Jean-François 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.
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.
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.
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.
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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