Britishvolt, the company that has been trying to develop an electric vehicle battery factory in north-east England, has called in administrators from EY after failing to find investors for a rescue bid.
The Northumberland-based startup filed for insolvency this morning and administrators from EY were appointed, with nearly all of its 300 staff members made redundant.
EYhavekept on 26 members of staff who will assist in the sale of the business and its assets.
A last-ditch effort to find investors in recent weeks saw potential interest from an Indonesia-linked consortium of investors, which apparently saw the company valued at just over 30mln, less than a tenth of its worth from a year ago.
EY saidDan Hurd, Jo Robinson and Alan Hudson we…
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