Payouts after MG Rover collapse
More than 1,000 companies that are still owed money from the £1.3 billion collapse of MG Rover three years ago are to finally get some cash back.
More than 1,000 companies that are still owed money from the £1.3 billion collapse of MG Rover three years ago are to finally get some cash back.
The launch date for the first Chinese MGs made at Longbridge has been put back to next year following a series of production problems.The launch date for the first Chinese MGs made at Longbridge has been put back to next year following a series of production problems. Nanjing Automobile originally wanted its first batch of MG TF sports cars to be in showrooms this autumn. But the firm now says cars will not be available until February next year, with first deliveries expected to customers in March. Read the full story in the Express & Star
The two Chinese car companies that each own a chunk of the collapsed MG Rover are in talks that could lead to a £500 million takeover deal.
Nanjing Auto, the Chinese car firm that bought MG Rover, is asking its Government for a loan of up to £200 million after reports that its banks are losing confidence.
Shrewsbury-based car firm Stadco has signed a deal with the Chinese owners of MG Rover. The car parts maker, with its base in Harlescott, will supply components to build the new MGTF sports cars.