Arrival UK Ltd and Arrival Automotive UK Ltd - Administration

Arrival UK Ltd and Arrival Automotive UK Ltd, the UK arm of electric van maker Arrival, entered administration on 5 February.

The companies are headquartered in Banbury and operate from nine sites across the UK. They are ultimately owned by Arrival SA, a NASDAQ-listed company, and part of a group which employs about 400 employees globally.

Simon Edel, Alan Hudson and Sam Woodward of EY were appointed as joint administrators, and said that the group’s liquidity position has been impacted by challenging market and macroeconomic conditions which have resulted in delays in products getting to market. The joint administrators are exploring options for the sale of the business and assets of the companies.

Glas Trust Corporation Limited has registered charges against both companies, while Ima Funding and Hsbc UK Bank PLC have registered charges against just Arrival Automotive UK Ltd.