Luxor Capital Group, a former shareholder and creditor to Swedish start-up Volta Trucks, is in ‘advanced talks’ with the firm’s administrators, Sky News reports.

The talks concern a deal that could save hundreds of UK jobs, where 600 people were employed by the firm.

Last February, the firm raised €230m in a financing round which included Luxor Capital, a US-based credit hedge fund.

Electric commercial vehicle start-up Volta initiated bankruptcy proceedings over a month ago, assigning joint administrators joint administrators from Alvarez & Marsal Europe LLP for its UK subsidiary.

In a statement from the board of directors when the firm announced its bankruptcy proceedings, Volta said that the collapse of battery supplier Proterra had a “significant impact” on its manufacturing plans.

The start-up had previously raised approximately EUR300 million ($316 million) from investors and said it had an order book of more than 5,000 vehicles.

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