Bird Files for Bankruptcy Amid Financial Struggles

Micromobility Industry Continues to Grow Despite Individual Company Challenges

Bird, the electric scooter company, has filed for Chapter 11 bankruptcy protection in an attempt to stabilize its finances. The company plans to continue its operations while it reorganizes its debt and looks for a buyer.
Bird's bankruptcy filing does not involve Bird Canada or Bird Europe, which will continue to operate as normal. The company expects the court-supervised process of selling assets will be complete within the next 90 to 120 days.
Bird was founded in 2017 and quickly became a venture capital darling, raising over $1.1 billion and becoming a publicly traded company in 2021. However, the company has struggled with profitability, regulatory issues, and a decrease in ridership during the pandemic.
Despite Bird's financial struggles, the shared micromobility industry is reportedly doing well. According to the National Association of City Transportation Officials, the number of micromobility trips in the U.S. and Canada increased by five million from 2021 and are up by 40% since 2018.
Bird's bankruptcy filing comes amid a turbulent time for the micromobility industry, with other companies such as Micromobility.com and Tier also facing financial difficulties.