“Not very long” to bankruptcy for Northvolt

Published 7 September 2024 at 12.02

Economy. Sustainability giant Northvolt is struggling with finances after failing to pull off a major IPO in August. Soon, a reconstruction or bankruptcy may become relevant.

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– I know that they are having a very tough time with the financing, and that it is not very long until the money is running out, says a “high-ranking person” in the financial industry, with connections to Northvolt, to Dagens Industri.

However, none of the newspaper's sources claim that a reconstruction is planned, but the company will instead present a new strategic plan .

A reconstruction is a last resort to avoid bankruptcy when the debts become too great, but the application can be rejected by the court and then the company goes bankrupt instead.

According to DI, the company has serious production problems at its large battery factory in Skellefteå and Northvolt's financial situation has deteriorated significantly recently.

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