Vanmaker LDV faces administration
Vanmaker LDV is expected to be placed in administration by a court later, threatening up to 850 jobs and thousands more in the supply chain.
Attempts to sell Birmingham-based LDV as a going concern have failed.
Talks with one potential buyer, the Malaysian firm Weststar, broke down at the last minute last weekend, leading LDV to apply for administration.
Administrators could liquidate LDV’s assets and it is feared any buyer would take machinery abroad.
Such a move would end decades of production at the Washwood Heath site.
LDV managers and workers were angered last week when they were forced to cancel a planned lobby of Parliament because of Prime Minister Gordon Brown’s cabinet reshuffle.
Directors had hoped to persuade the government to agree to a £60m loan to secure the firm, but no ministers were available to meet them.
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Posted: June 8th, 2009 under Manufacturing News.
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