Tom Walkinshaw Racing (TWR), the British automotive engineering group that recently lost some £20 million by investing in the failed Arrows F1 racing team, has gone into administrative receivership under PricewaterhouseCoopers. PwC administrator Rob Hunt said he hoped the business could be sold.
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TWR has been a supplier of specialist engineering and assembly services to vehicle manufacturers including Volvo, Renault, Ford and GM. It employs some 500 staff.
