Failed gigafactory firm Britishvolt is to be liquidated.
Administrator EY has filed documents which show the company is being moved to a creditors’ voluntary liquidation.
The news, first reported by Business Live, follows the failure earlier this year of Australian firm Recharge Industries to complete a part-rescue of the high-profile collapsed project after it was unable to pay the required £8.6 million.
The original £3.8 billion project in Blyth, Northumberland promised to create thousands of jobs but more than 200 were lost when the firm collapsed into administration in January 2023 after missing a series of construction milestones.
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The then-Conservative government had committed a total of £100 million for the ‘levelling-up’ project. However when expected private funding did not materialise, it refused to provide an early advance of funds.
Following the failure of preferred bidder Recharge Industries to complete a takeover, American investment giant Blackstone bought the site from Northumberland County Council.
It intends to invest up to £10bn there to create a campus of data centres through its subsidiary QTS, with financial support from the council.
The new documents reveal that the administrator paid HMRC and former employees of Britishvolt, while there are sufficient funds to pay unsecured creditors.