LDV bites the dust

So LDV finally slips into administration this morning after attempts to sell it as a going concern failed over the weekend.

It is estimated that 850 direct jobs as well as 1200 in dealerships and many more indirectly could be lost after negotiation with the Malaysian Company broke down and the government could not be persuaded to loan £60m to secure the firm.

That figure may be less significant as the Birmingham post estimates that closure could

cost the Treasury up to £53 million in unemployment benefits and lost taxes in one year alone.