Rover to be broken up
PriceWaterhouseCoopers has told MG Rover creditors that the company will be
broken up. Out of 630 interested parties, only three had any chance of being successful. That is three out of nine that
even had enough funds to try. With £1.4 billion in credit claims and few valuable assets, it seemed doubtful that any
rescue deal could be worked out. Perhaps someone, like Honda or TVR, will by the rights to the MG name. SAIC in China
will probaby try to buy the rights to Rover's designs. Our thoughts go out to those once employed by MG
Rover.
Reader Comments (Page 1 of 1)
David H. Brady, Jr. 10:44PM (12/18/2005)
I guess what was left after the loss of Land Rover/Range Rover and MINI couldn't survive inept management any longer. A gray day for sure.
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