AM Online

Mayflower Corporation shares suspended

Following announcements of board resignations and accounting irregularities we reported yesterday, Mayflower Corporation's troubles deepened as the Board asked the Stock Exchange to suspend its shares indefinitely with effect, because it believed “it is likely that the current negotiations with its lenders will prove unsuccessful”. The board of Mayflower promises further advice when it has reviewed its financial position. The company's troubles will be a concern to Ford, among others - Mayflower supplies aluminium body panels for the Land Rover Discovery, and is one of Britain's few remaining British-owned tier one automotive suppliers.

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