OKLAHOMA CITY (KFOR) — Canoo announced on Friday the company has filed for Chapter 7 bankruptcy and will immediately cease operations. The company's filing for bankruptcy comes weeks after they furloughed workers and halted operations at facilities in Oklahoma. “All we want to do is to go work for a start-up company, help make it successful, and then (we) turn around and get dumped on,” said one worker to News 4 after receiving the furlough letter in October 2024. LOCAL NEWS: ‘Something needs to be done’: Former Canoo employee begs state leaders for action The state of Oklahoma entered into a contract with Canoo which set off controversy following a copy of the contract, obtained by The Frontier, revealing that the manufacturer was awarded the contract without a competitive bidding process. At the time of the agreement, Canoo had still not put any cars on the market for the public. The state received three vehicles in January 2024, costing just under $120,000. According to a press release, the filing was made with U.S. Bankruptcy Court for Delaware, and a federal appointment of a Bankruptcy Trustee will oversee the liquidation of company assets and distribution of proceeds to its creditors. Canoo claims it has less than $50,000 in assets. We would like to thank the company’s employees for their dedication and hard work. We know that you believed in our company as we did. We are truly disappointed that things turned out as they did. We would also like to thank NASA, the Department of Defense, The United States Postal Service (“USPS”), the State of Oklahoma and Walmart for their belief in our products and our company. This means a lot to everyone in the company. Tony Aquila, Chairman and CEO of Canoo Inc. In the press release, Canoo announced, "As a result of this filing, Canoo regrets to inform all stakeholders that it will cease operations effective immediately. A court appointed trustee will manage the liquidation of the company’s assets and our team will collaborate closely with the Delaware Bankruptcy Trustee to assist with the process."