Administrators say Recharge Industries is in default of sale agreement, which parent firm denies
The Australian company that rode to the rescue of the failed car battery firm Britishvolt earlier this year has failed to make the final payment in its purchase of the company, throwing the future of the deal into doubt.
Britishvolt’s administrators, EY, said the buyer, Recharge Industries, bought the business and assets for £8.57m in a deal finalised in February but had yet to make the final payment, due on 5 April.
About Author
More Stories
China promises ‘countermeasures’ after Trump threatens additional 10% tariff
North Korea behind $1.5bn hack of crypto exchange ByBit, says FBI
US shutdown of HIV/Aids funding ‘could lead to 500,000 deaths in South Africa’