BusinessBusiness RecoveryPwC ‘destroyed market for British-built MG Rovers’

PwC 'destroyed market for British-built MG Rovers'

Industry insider claims PwC sold Rovers too cheaply

PricewaterhouseCoopers has been accused of destroying the market for
British-built MG Rovers by selling too many cars at discounted prices in a bid
to recoup some of the £1.4bn owed to creditors.

The claim comes from an anonymous industry insider, according to the
Birmingham Post, who criticised PwC for making Rover unviable by
selling uncompleted stock to dealers at discounted prices.

PwC partner and MG Rover joint administrator Rob Hunt strongly refuted the
claims.

Hunt told the Post: ‘There were 35,000 cars when Rover went into
administration and we have sold about 7,500 of them; the remainder have been
sold through the dealers or were returned to the banks who leased them.

‘I think the fall in price reflected the uncertainty following Rover’s
collapse.’

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