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Discussion Starter · #1 ·
I'll update this thread during the day (Friday) with the current state of play and anything we can do to help - there's been lots of suggestions, but we need to talk to MGR and find out what we can do. There's no point just saying 'go and block the M25' or something, we need to do something that will benefit MGR.

I'll lock this thread to keep it easy to read, but any feedback please find an appropriate thread.
 

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Ok, current situation as understood at 2:27am. ( Any official comments will be in white, bold text, anything else should be taken accordingly. )

Ok, just before 10pm last night Patricia Dim, sorry Hewitt stated in a press release that MG Rover had gone into Administration. Much to the amazment of the MG Rover Directors who later confirmed that whilst Price Waterhouse had been called in, they were simply going in to review the accounts, not start adminstration proceedings. In other words, Hewitt had jumped the gun & got it completely wrong.

Current status is that MG Rover is not in administration and is trading normally.
 

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Discussion Starter · #3 ·
12:54 - Directors have announced that administrators will be appointed shortly and a statement will be made later today.
 

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18:12

Blair and Brown have been in a meeting today with the TGWU in Birmingham and have recently said that the Chinese are not completely out of the window. Here is the full MP3 grab of the conference (credit BBC News 24)

clicky (2.49mb, 6 mins)

Related thread: http://forums.mg-rover.org/showthread.php?t=68088
 

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Update: 13th April @ 6.27am

We should know towards the end of this week if the Chinese are interested in buying the company. PWC are going to arrange to present to them and gauge their interest. If there is no interest, then the chances are the government loans will stop and 5,300 workers would be laid off.

Last night MG Sport and Racing ltd followed MG Rover Group Ltd and Powertrain Ltd into administration.
 

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14th April 13:36 - Not much change, just checkout the sticky thread about warranties.

Also check out the thread about the rally this weekend at Gaydon...
 

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Discussion Starter · #8 ·
15th April 10:52 - PWC Confirm that SAIC are no longer interested in persueing any deal with MGR / PWC.
 

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Ok, a few people have asked me for a run down of the facts as far as I know.

FACT: Just under 5000 employees were made redundant on the 15th
FACT: Around 1000 will remain to finish cars off which are in various stages of completion in the plant
FACT: There have been around 70 approaches to the administrators by people interested in parts of the business
FACT: 12 of these were for the MG Rover brand itself.
FACT: The IP Rights (Interlectual Property) were sold of the 25, 75 & K Series to the Chinese for £67m - I am currently trying to find out exactly what IPR were sold now.
FACT: The IPRs can be bought back at any time by MGR.
FACT: The companies in administration are MG Rover Group Ltd; Powertrain Ltd; MG Sport and Racing Ltd.

FACT: Kevin Howe was on holiday during the time the crap was hitting the fan and only came back a couple of days before the redundancies were announced
FACT: KH used the rear entrance of Longbridge to get on and off site, he didn't drive through the main Q gate like everyone else.
FACT: KH looks remarkably like David Brent.
FACT: I've overdone the Kevin Howe facts
 
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