Feb 5 (Reuters) -
British electric vehicle startup Arrival SA has appointed EY as administrators for two of its units, the consulting firm said on Monday.
Simon Edel, Alan Hudson and Sam Woodward of EY-Parthenon's Turnaround and Restructuring Strategy team were appointed joint administrators of Arrival UK and Arrival Automotive UK, EY said.
The company, which has no revenue, has been struggling to get its business off the ground and secure funding to do so. It had raised going-concern-risk in November 2022 and has shed most of its workforce since then.
Arrival did not respond to a Reuters request for comment.
Arrival was in talks with EY about acting as administrator if it could not secure rescue funding, Sky News
reported
last month. (Reporting by Yuvraj Malik and Akash Sriram in Bengaluru and Nick Carey in London; Editing by Anil D'Silva)
