AM Online

Former directors bid for failed taxi manufacturer

Metrocab, the taxi maker which went into administration in January, could be snapped up by its former directors. Led by Steve Ferris, the company's director of sales and marketing, a consortium of former Metrocab directors, has already put in a bid.

The Tamworth-based company makes purpose-built taxis and has stopped production with the loss of about 100 jobs. Metrocab had been producing about eight vehicles a week but by the start of the year this had fallen to five.

A spokeswoman for administrator BDO Stoy Hayward confirmed it was acting for Metrocab, which is currently operating under a Company Voluntary Agreement. This allows the business to be reformed and refunded but also allows the company to be sold if restructuring is unsuccessful.M

Manganese Bronze, the parent company of LTI, which also makes black cabs, says it is not interested in purchasing is rival, according to financial director Mark Fryer.

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