– MG Rover and Powertrain losing £20-25 million a month
– Majority of workforce sent home on full pay
– Administrator discussions with SAIC possible
– No plans to resume car production; limited Powertrain engine production expected
– Press conference at 10.30am Monday

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Further to their appointment as joint administrators to MG Rover Group Limited and Powertrain Limited; Ian Powell, Tony Lomas, Rob Hunt and Steven Pearson, partners in PricewaterhouseCoopers, yesterday [Sunday] secured £6.5 million funding from the government to sustain the business and pay the workforce for a further week.


The joint administrators work has indicated that the companies are incurring very significant losses, estimated at between £20 million and £25 million per month.


Ian Powell, partner PricewaterhouseCoopers said: “Since our appointment on Friday, we have worked with management, unions and the government to assess the situation. We are pleased to have secured this funding which has given us vital breathing space to evaluate the interest of all parties. However, this funding must be viewed in context – it is a small step forward.”


Tony Lomas, partner PricewaterhouseCoopers added: “There is a possibility that our appointment as administrators creates an opportunity to resolve some of the concerns around the previous deal, and we now seek to engage in discussions with SAIC as soon as possible.”

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.

Company Profile – free sample

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 GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The majority of the workforce has been asked to go home on full pay, however a number of employees have been asked to stay on site to assist the joint administrators. Car production had already ceased prior to the appointment of joint administrators and there are no plans to resume car production, although it is expected that limited engine production will continue at Powertrain.