Electric Last Mile Solutions Inc. filed for Chapter 7 bankruptcy in Delaware, making it the first of the electric-vehicle startups that merged with special purpose acquisition companies to go out of business amid the recent market slump. 

Ravn Air Group, whose airlines connect the far reaches of Alaska, filed for Chapter 11 bankruptcy after it ran out of cash to pay staff and keep its planes flying.

Borden Dairy Co. filed for bankruptcy, becoming the second major U.S. milk seller to do so in two months as competitive pressures, declining consumption and falling profits made its debt load unsustainable.