Get Autoblog in your Google feed
A $11.7 million life-line was thrown to troubled MG Rover to keep
the company alive while it tries to woo back a Chinese car maker that was interested in a takeover. The loan will pay
wages and expenses for a week while Rover goes back into talks with Shanghai Automotive Industry Co.
PricewaterhouseCoopers LLP was appointed to dig through the ashes of the ailing company to discover whether the company
can be salvaged or broken up to pay debts. Sad times indeed.