LDV set for Administration
UK van make LDV has today applied to go into administration on 6 May unless a deal to take over the company can be concluded by that time. Unions are this evening putting pressure on the UK government to release a £4 million lifeline to the company which they believe would be enough to keep the company afloat as talks go on.
This is the latest in a long line of attempts to prise much-needed finance from the UK government although at this moment in time it appears the government is unmoved. There are literally thousands of jobs at risk not only with LDV itself but in the surrounding area, with many local businesses indirectly affected. This could not come at a worse time for the UK government, which is already under pressure after issuing some fairly upbeat financial forecast for the future which go against every report produced on the UK to date.
The Department of Business has today responded to calls for additional finance suggesting the government would consider applications for assistance after the company is on a more "sounder footing". This impasse looks as though it could spell the end of LDV UK and see the UK motor industry reduced to just a handful of companies.
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