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.