BusinessCompany NewsPwC set to preside over MG Rover collapse

PwC set to preside over MG Rover collapse

Big Four group called in to advise carmaker on financial position.

Big Four group PwC looks set to be appointed administrator of MG Rover should the car manufacturer collapse.

Link: MG Rover offered tax holiday

Speculation was mounting that the group would be handed to the administrator some time later today, after the government effectively gave up on the group’s future.

The DTI said last night that the British-owned volume car manufacturer had called in receivers, a claim denied by the company later.

PwC, it said, had merely been called in to ‘advise the board on the current position at the company’.

This morning, the position appeared even more grim as the government announced a package of £40 million for the car company’s suppliers. It is now expected to be formally handed over to administrators, expected to be PwC, later today.

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