Lordstown Motors receives approval of first day motions in Chapter 11 case

Lordstown Motors “announced that the United States Bankruptcy Court for the District of Delaware entered orders granting approval, on an interim or final basis, of all of the Company’s “first day” motions filed in its chapter 11 cases on June 27, 2023. ordstown continues to operate with significant unencumbered cash-on-hand. Additionally, the Court granted interim approval of the Company’s first day employee wages and benefits motion, which enables the Company to continue paying all employee wages, salaries, and providing benefits – without interruption. The hearing for final approval of that motion is scheduled for July 27, 2023 at 9:30 a.m.”