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MG Rover - what's next?

07 April 2005

MG Rover looks to be on the verge of collapse.

It is thought that partnership negotiations with Shanghai Automotive Industry Corporation have finally ended without success.

Vice-chairman Peter Beale said last night that the company could not survive without the partnership.

Trade and Industry Secretary Patricia Hewitt said the company has called in the receivers but MG Rover claimed it has only asked accountants to look over its books and advise them whether it has any chance of survival.

Either way, the prospects for MG Rover look bleak. A statement from the company this morning said: ‘This is a deeply worrying time for everyone. We thank everyone for their loyalty and commitment at this very trying time.’

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