WeJo Limited - case update

Potential administrators for connected vehicle data company Wejo Limited have filed a second notice of intention, buying the company an extra ten days for a rescue deal.

The company initially filed a notice of intention to appoint Andrew Poxon and Hilary Pascoe of Leonard Curtis as Joint Administrators on 30 May, after reportedly struggling to monetise the vast amounts of data it tracked and analysed. Shortly thereafter, the company was delisted from the NASDAQ.

Now, the potential administrators have filed a second notice of intention, suggesting a deal may be in the works.

The company previously announced that it was evaluating whether to file ancillary insolvency proceedings for itself and its subsidiaries in other jurisdictions, including in the United States, following the NOI filing.