UK-backed battery firm Britishvolt considers entering administration

Company struggling to find investors willing to fund effort to build giant 3.8bn gigafactory' in north-east

The UK government-backed battery startup Britishvolt is on the brink of entering administration with the potential loss of almost 300 jobs, after it struggled to find investors willing to fund its effort to build a giant 3.8bn gigafactory" in north-east England.

The company had considered an administration as early as Monday, two sources with knowledge of Britishvolt's operations told the Guardian. Britishvolt has lined up the accountancy firm EY to carry out the administration if it goes ahead.