Northvolt Lenders Line Up PJT for Advice as Cash Crunch Deepens
- Battery maker has cut jobs, paused production to preserve cash
- Struggling firm has seen major setbacks as EV demand stalls
The NorthVolt Labs research and development center in Vasteras, Sweden.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Lenders to Northvolt AB have selected investment bank PJT Partners to help advise on options as a cash crunch deepens at the troubled maker of electric-car batteries, according to people familiar with the matter.
While there are no restructuring talks under way, PJT will work alongside law firm Milbank LLP, which was already a lender adviser, the people said, asking not to be named discussing private information. Creditors are preparing for a range of scenarios at the Swedish manufacturer, some of the people said.