Financial Times FT.com

Rover collapses as deal fails

By James Mackintosh

Published: April 8 2005 00:25 | Last updated: April 8 2005 00:25

MG Rover has collapsed after Britain’s last volume carmaker failed to secure a government rescue package or a sale to a Chinese company. It leaves the west Midlands facing 6,100 job losses just 25 days before the general election.

The failure of Rover which will appoint accountants PwC as receivers or administrators this morning is a “devastating blow” to suppliers, workers and the wider community, Patricia Hewitt, trade and industry secretary, said last night.

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