LDV vans falls into administration

Van maker LDV has announced that a large chunk of its 850 staff are at risk of losing their jobs if a financial support isn’t found for the firm.

LDV was ordered into administration by courts today after the firm’s Russian owners, Gaz, claimed they’d run out of options to save the ailing firm.

This may not only affect the 850 people working directly for LDV – a further 4,000 work for parts suppliers while LDV dealers make up a further 1,200.

Administrators are in talks with ‘interested parties’ who may wish to buy part of the firm to support it. There was hope that Malaysian firm Weststar would save LDV but the deal fell through last week.

LDV staff and management were planning to lobby Parliament last week in a bid for a £60m loan to see the company through. Sadly, PM Gordon Brown’s cabinet reshuffle meant that there were no ministers available for them to see.

Managers maintain a loan would cost the Government and Tax Payer far less than LDV’s collapse.