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MG Rover appoints administrators

PricewaterhouseCoopers has this afternoon been formally appointed as administrators for MG Rover and Powertrain Limited.

The appointment follows a request by the board of MG Rover yesterday for PwC to advise it on the companies’ position.

Partners from PwC met board representatives at the companies’ Longbridge headquarters this morning.

Ian Powell, joint administrator, said: "Following constructive meetings with management and employee representatives, we will now work to understand and evaluate the financial position of the companies more fully.

"The business will continue over the weekend. We have asked employees to return to work next week. We will be working closely with management, staff, unions, key suppliers, creditors and the Government as the situation develops."

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