Tritium Collapses from Double Unicorn to Voluntary Administration

Electric vehicle fast-charger maker Tritium DCFC has entered voluntary administration, the second major Australian manufacturing company that collapsed in a week next to Qenos. McGrathNicol Restructuring has designated partners Shaun Fraser, Katherine Sozou, Matthew Hutton and Jamie Harris as receivers of Tritium in less than a day while the fast-charger company hired Peter Gothard, James Dampney and William Colwel as administrators. “Our immediate focus is to stabilise operations and work closely with Tritium’s employees, customers, and suppliers as we attempt to secure the best possible outcome for all parties,” McGrathNicol Restructuring’s Fraser said. “A sale process for Tritium’s business and assets was underway prior to our appointment—we will be re-engaging as a matter of urgency with interested parties and the broader market to seek to find a long-term capital and/or ownership solution for Tritium.”...