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The company who rose to prominence as one of the independent Tesla "killers" filed for Chapter 11 in Delaware on Monday.

"Fisker has made incredible progress since our founding, bringing the Ocean SUV to market twice as fast as expected," a company spokesperson said in a statement. While impressive in some regards, the Fisker Ocean also earned a bad rep for poor design choices and numerous quality issues, prompting YouTuber Marques Brownlee to call it the "worst car" he ever reviewed.

It didn't help that the company was financially struggling, prompting a complete halt of Ocean production in May.

The next step for Fisker, it appears, is selling what's left of the company and drawing the curtains.

• In first-ever driving footage, Fisker Ocean EV passes what looks like a Tesla
• Here's a first look inside the Fisker Ocean EV that's taking on Tesla for under $40,000
• Tesla just tied the knot with Elon Musk, for better or worse. (Probably worse.)
• Tesla announces another big recall, affecting four vehicle models
• Tesla just laid off more employees after gutting the entire charging team

"After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company," the spokesperson's statement read.

Besides the Ocean SUV – the only Fisker model that ever made it to market – the company had a few new models in the pipeline, including a supercar called Ronin, a pick-up called Kayak, and an affordable, smaller car called Pear. It is now highly unlikely we'll ever see any of those on the road.

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