»»»»»»»»»»»»»thecourier
July 2009 P49
for package and parcel people
EIGHT-HUNDRED workers were
laid off by LDV last month as
Malaysian firm Weststar pulled
out of a potential takeover.
The firm was forced into
administration after Weststar
announced that...
More
»»»»»»»»»»»»»thecourier
July 2009 P49
for package and parcel people
EIGHT-HUNDRED workers were
laid off by LDV last month as
Malaysian firm Weststar pulled
out of a potential takeover.
The firm was forced into
administration after Weststar
announced that it could not
complete the deal as it had “been
unable to secure the remaining
investment required to refinance
the business.
”
It made redundancies at LDVʼs
Washwood Heath plant inevitable,
with only 40 staff retained to
“maintain the site”.
Guy Jones, LDV marketing
manager, confirmed: “The
management team have worked
exceptionally hard over the past
few weeks and months but, despite
every effort made around the
globe, theyʼve been unable to
obtain the required funding from
the banking system.
”
A representative of appointed
administrators PriceWaterhouseCoopers said: “Sadly, we do not
have the funding necessary to
keep employees on, so it is with
great regret that we place
ourselves in a position where will
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