Northvolt Ett Expansion filed for bankruptcy. It is a direct consequence of Northvolt’s reshaping
Northvolt points out that "Ett Expansion AB is one of over 20 different entities within the Northvolt Group and the application for bankruptcy does not relate to any of the other legal entities in the wider Northvolt Group".
Northvolt Ett Expansion, a subsidiary of Northvolt, has filed for bankruptcy in Sweden. Such decision follows the suspension of the expansion project announced a few weeks ago. The company has “no direct employees and is managing the construction project”, as stated in Northvolt’s press release.
Northvolt Ett Expansion: one of the over 20 entities within the Group
All contacts with Ett Expansion AB will from now on be managed by the bankruptcy trustee. Northvolt Group continues to be in dialogue with stakeholders for continued cooperation within Northvolt Group’s ongoing operations.
The Swedish group also points out that “Ett Expansion AB is one of over 20 different entities within the Northvolt Group and the application for bankruptcy does not relate to any of the other legal entities in the wider Northvolt Group”.
