North East business leaders and politicians have expressed hopes that a deal can be salvaged to keep the Britishvolt project alive, after it emerged its prospective new owner has defaulted on payments to acquire the firm.
Recharge Industries, the Australian company which was supposedly meant to buy failed battery start-up Britishvolt, has missed the deadline to pay for the business, according to the latest filing by joint administrators at EY. The document shows how the final instalment of a nearly £8.6m payment, which was due on April 5, was still outstanding saying: “This amount remains outstanding and as a result, the joint admi …
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