Volvo Supplier Luminar Files Bankruptcy After Dispute (1)

Luminar Technologies Inc, which manufactures laser-based sensors for cars, filed for bankruptcy shortly after it lost a contract with Swedish carmaker Volvo Car AB.

The Orlando-based company filed for Chapter 11 in the Southern District of Texas on Monday. In its bankruptcy petition, it listed assets of between $100 million and $500 million, and liabilities of between $500 million and $1 billion.

Before filing for bankruptcy, Luminar struck an agreement with Quantum Computing Inc. to sell it the equity of its subsidiary Luminar Semiconductor Inc. for $110 million in cash, Luminar said in a statement.The deal is ...