STOCKHOLM (Reuters) - The bankruptcy of battery cell maker Northvolt, once the leader of Sweden's green industrial boom, is a huge blow to the country's north and particularly the small town of Skelleftea.

STOCKHOLM–Swedish battery maker Northvolt filed for bankruptcy in Sweden after it failed to secure the financial backing needed to continue operating.A Swedish court-appointed trustee will now oversee the process,

On Tuesday evening, reports spread quickly that battery manufacturer Northvolt may be nearing bankruptcy, with Dagens Nyheter being the first to report it. Two independent sources told DN that Northvolt plans to file for bankruptcy on Wednesday if it fails to secure new capital on Tuesday.