Arrival names EY as administrator – the next steps
By Luke Willetts - 9th February 2024
EY London HQ
USA / UK – Earlier this week, we brought you the news that commercial vehicle manufacturer, Arrival Ltd of London, UK, finally collapsed into administration (5 February 2024). T&BB has been in contact with the accounting firm, Ernst & Young (EY) who is handling the administration process. EY will aim at selling off any assets in order to pay back creditors, which include Hyundai, Kia and BlackRock investment group. In an email correspondence, EY has told us that “Its (Arrival) primary assets include intellectual property, the equipment used to support the R&D function, proprietary software and prototype vehicles.”
The Administrators are seeking interest from any parties interested in acquiring these assets. contact the Joint Administrators at the following email address: aukacquisitions@uk.ey.com
