Plans to bring thousands of jobs to Northumberland have been jeopardised as administrators have been appointed to battery start-up Britishvolt.
The firm had been holding 11th hour meetings in the hope of finding a buyer to save it and its plans to build a £3.8bn gigafactory at Cambois, which promised to deliver 3,000 jobs and 5,000 more in the supply chain. Now insolvency experts at EY have been appointed to the firm and the majority of its 300 staff have been redundant.
The move follows high level talks on Friday at which Britishvolt was considering competing takeover offers - one involving private equity investor DeaLab Group leading a consortium, and a second rival bid from a number of existing shareholders.
