British sportscar firm TVR has dismissed suggestions that it could be forced out of business despite having to lay off nearly a third of staff temporarily, according to the BBC.
Go deeper with GlobalData
As it prepared to meet union officials to discuss the staff cutbacks, the Russian-owned firm stressed that it was under no threat of closure, the broadcaster reported on its website.
The report said the Blackpool-based firm had laid off 73 of its 260 staff after seeing sluggish demand over the winter but insisted that it was still manufacturing up to 10 cars a week.
Reports had suggested that production had fallen to two models a week but TVR emphatically denied this to the BBC.
“There is no way the company will be closing,” a TVR spokesman was quoted as saying. “Between Christmas and now, six to 10 cars a week have been going out of the factory.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUnion officials were gaining more information about TVR’s current situation and the future for its workforce at a meeting on Monday, the broadcaster said.
Established in 1947, TVR was bought by Russian tycoon Nikolai Smolensky in 2004, the BBC noted.
