Menu
08/06/2009
Hundreds Of Workers Lose Jobs As LDV Goes Into Administration
Birmingham-based van-maker LDV has gone into administration, leaving 850 people redundant, administrators have said.
The news came just hours after the stricken firm went into administration after the collapse of a rescue bid.
The government rejected a last-minute plea for a £60 million loan to save the company, which was previously known as Leyland Daf Vans.
PriceWaterhouseCoopers were appointed administrators this morning, after the court put LDV into administration.
It is understood that talks broke down at the last minute, a week ago, with Malaysian firm Weststar.
"Sadly we do not have the funding necessary to keep employees on, so it is with great regret that we place ourselves in a position where we will have to make redundant later today the vast majority of the workforce," a representative of administrators PWC said.
Rob Hunt, joint administrator and partner at PWC added: "Due to the lack of funding it has, regrettably, been necessary to make the majority of the workforce redundant and we will retain a skeleton workforce of around 40 people to maintain the site."
Birmingham-based LDV firm employed 850 workers, but thousands more work for businesses which distribute LDV vans or supply parts and other services.
Tony Woodley, joint leader of the union Unite, said earlier: "This is a bitter blow for manufacturing and the West Midlands region in particular.
"However LDV has been in a vulnerable situation for many years and today's sad announcement is not due to any lack of effort by either Unite or the Government to find solutions."
(JM/KMcA)
The news came just hours after the stricken firm went into administration after the collapse of a rescue bid.
The government rejected a last-minute plea for a £60 million loan to save the company, which was previously known as Leyland Daf Vans.
PriceWaterhouseCoopers were appointed administrators this morning, after the court put LDV into administration.
It is understood that talks broke down at the last minute, a week ago, with Malaysian firm Weststar.
"Sadly we do not have the funding necessary to keep employees on, so it is with great regret that we place ourselves in a position where we will have to make redundant later today the vast majority of the workforce," a representative of administrators PWC said.
Rob Hunt, joint administrator and partner at PWC added: "Due to the lack of funding it has, regrettably, been necessary to make the majority of the workforce redundant and we will retain a skeleton workforce of around 40 people to maintain the site."
Birmingham-based LDV firm employed 850 workers, but thousands more work for businesses which distribute LDV vans or supply parts and other services.
Tony Woodley, joint leader of the union Unite, said earlier: "This is a bitter blow for manufacturing and the West Midlands region in particular.
"However LDV has been in a vulnerable situation for many years and today's sad announcement is not due to any lack of effort by either Unite or the Government to find solutions."
(JM/KMcA)
Related UK National News Stories
Click here for the latest headlines.
29 April 2009
LDV Job Fears As Company Enters Administration
Struggling van maker LDV is to apply for administration, leading to fears hundreds of workers will lose their jobs. Production halted at the Birmingham-based plant in mid-December, and most of the company's 850 production staff were sent home on a deal which allowed them full pay for one month.
LDV Job Fears As Company Enters Administration
Struggling van maker LDV is to apply for administration, leading to fears hundreds of workers will lose their jobs. Production halted at the Birmingham-based plant in mid-December, and most of the company's 850 production staff were sent home on a deal which allowed them full pay for one month.
11 November 2013
Barratts Enters Administration
Barratts Shoes has entered administration. The retailer, which employs more than 1,000 people across UK and Ireland, appointed Duff & Phelps as joint administrators on Friday afternoon. In a statement Duff & Phelps said: "The joint administrators are reviewing the company's financial position whilst seeking a going concern sale of the business.
Barratts Enters Administration
Barratts Shoes has entered administration. The retailer, which employs more than 1,000 people across UK and Ireland, appointed Duff & Phelps as joint administrators on Friday afternoon. In a statement Duff & Phelps said: "The joint administrators are reviewing the company's financial position whilst seeking a going concern sale of the business.
26 January 2009
Footwear Chains Go Into Administration
British High Street shoe chains Barratts and PriceLess have appointed administrators, as their parent company has suspended its shares. The two chains, owned by Bradford-based Stylo, consist of 400 stores nationwide, and employ a total workforce of 5,450 people.
Footwear Chains Go Into Administration
British High Street shoe chains Barratts and PriceLess have appointed administrators, as their parent company has suspended its shares. The two chains, owned by Bradford-based Stylo, consist of 400 stores nationwide, and employ a total workforce of 5,450 people.
23 October 2006
Two arrested in investigation into teenager's abduction
Police investigating the abduction of a teenage girl from a street in Wrexham on Friday have arrested two people, according to reports. It is understood that a man has been arrested and charged with perverting the course of justice, while a woman is believed to be in police custody on suspicion of assisting an offender.
Two arrested in investigation into teenager's abduction
Police investigating the abduction of a teenage girl from a street in Wrexham on Friday have arrested two people, according to reports. It is understood that a man has been arrested and charged with perverting the course of justice, while a woman is believed to be in police custody on suspicion of assisting an offender.
20 August 2007
Prison Watchdog Concerned Over Court Cells
Serious concerns about housing prisoners in court cells during the height of the jail overcrowding crisis have been raised by prison watchdogs. Chief Inspector of Prisons Anne Owers said the policy of keeping inmates in court buildings for up to a whole weekend raised concerns for the safe and decent treatment of the prisoners.
Prison Watchdog Concerned Over Court Cells
Serious concerns about housing prisoners in court cells during the height of the jail overcrowding crisis have been raised by prison watchdogs. Chief Inspector of Prisons Anne Owers said the policy of keeping inmates in court buildings for up to a whole weekend raised concerns for the safe and decent treatment of the prisoners.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
