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,

Citing two sources, DN reported that Northvolt's board would file for bankruptcy on Wednesday for "the entire Swedish business" if the company fails to raise new funding by then. Northvolt's board is expected to make a definitive decision about the company's future Tuesday evening or early Wednesday, DN reported.