Tuesday, June 30, 2009
Government receives MG Rover inquiry report
The official report into the collapse of MG Rover four years ago has been delivered to the Government.
The inquiry was established soon after the collapse of Britain's last independently-owned major car company in 2005 amid widespread outrage over the way the company's owner, dubbed the 'Phoenix Four', had netted tens of millions of pounds for themselves.
Officials and ministers at the Department for Business are now deciding when to publish the report. No formal date has yet been set. The total cost of the inquiry was £15.9 million.
The 'Phoenix Four', businessmen John Towers, Peter Beale, John Edwards and Nick Stephenson were vilified for their role in the collapse of MG Rover, which was owned by a company called Phoenix Venture Holdings, with the loss of 6,000 jobs.
DATED: 30.06.09
FEED: AW
