Arrival on the verge of bankruptcy. Administrators appointed for its subsidiaries
The administrators are now exploring options for the sale of the business and assets of the Companies, including the electric vehicle platform, software, intellectual property and R&D assets, for the benefit of creditors.
Following several news reports coming from England (here one of our latest posts), Arrival seems to be really close to the end of its business. In the last few days, the company announced the appointment of Simon Edel, Alan Hudson and Sam Woodward of EY-Parthenon’s Turnaround and Restructuring Strategy team as joint administrators of Arrival UK Ltd and Arrival Automotive UK Limited, both subsidiaries of Arrival.
The administrators are now exploring options for the sale of the business and assets of the Companies, including the electric vehicle platform, software, intellectual property and R&D assets, for the benefit of creditors.
