Electric vehicle company BossCap has been placed into receivership, suspending all its operations and leaving more than 100 jobs at risk.
The Brisbane-based company said the collapse was out of their control, following the appointment of receivers on Tuesday, while 13 BossCap subsidiaries were placed under voluntary liquidation.
‘A sudden change in global production strategy from Ford materially impacted the availability of the underlying platform the business relied on,’ they said in a statement.
‘This decision, which was outside BossCap’s control, removed the foundation of future supply and significantly disrupted the company’s forward pipeline, despite strong market interest and growing sales momentum.’
Mark Holland and Anthony Connelly of McGrathNicol, appointed receivers and managers, are currently undertaking an assessment of the business.
Mark Holland and Anthony Connelly of McGrathNicol, appointed receivers and managers of the parent company Bosscap Group, are currently undertaking an assessment of the business.
Mr Holland told Yahoo Finance receivers were undertaking ‘urgent appraisal of operations and electric vehicle sales’ and would provide information to customers and stakeholders soon.
More to come
Electric vehicle company BossCap has been placed into receivership, leaving more than 100 jobs at risk
