Mitsubishi Motors, the
struggling Japanese carmaker, has secured a £250m loan, which it hopes will help
it in its efforts to restructure the business.
The loan comes a year after German-US group
DaimlerChrysler sold a minority
stake in the carmaker, falling a recall scandal at Mitsubishi.
In 2004, Mitsubishi admitted it had hidden faults to avoid bad publicity.
There has been some good news for investors after Mitsubishi reported a
smaller-than-expected loss for the six months from April to September.
Mitsubishi is Japan’s only loss-making
carmaker. It hopes to
return to profit for the full financial year ending March 2007.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies