The company’s directors had requested the appointment after Daewoo’s financial position had continued to deteriorate.
Daewood Motors in Korea was taken over in May this year by General Motors which has entered into talks with the administrators over the future of Daewoo Cars.
A statement from the administrators today said they would be developing ‘a strategy designed to optimise the value, which could be realised from the Daewoo Cars Limited’s assets’.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory