AMERICAS DISTRESS DAILY: Bus Maker Lion Electric Faces Closure

Lion Electric Co. is unlikely to survive after the Quebec government turned down an opportunity to invest in the firm. The company will likely be sold in parts, marking the end of the business.

• More than 2,200 Lion vehicles are on the road in North America and their owners may be left without maintenance services going forward.
• Lion owes more than $244 million to secured and non-secured creditors, with National Bank of Canada being the largest creditor with a loan of $47 million.

In Other News:

• Ares Management Corp. is seeking lenders to participate in a $5.5 billion financing package ...