LDV threatened with closure without government help
The man behind the rescue bid for trouble vanmaker LDV has cut the size of the emergency loan he is requesting following the rejection of his initial proposal by the Government.
The Financial Times reports that the Erik Eberhardson has warned the Birmingham LDV plant could close this week if it does not receive the £4 million cash injection.
Erik Eberhardson had previously asked for a bridging loan of up to £30m to transform LDV into a manufacturer of electric vehicles.
Mr Eberhardson said the smaller loan would keep LDV open while negotiations were ongoing with foreign investors.
He told the Financial Times; “We need to find a solution this week. I’m hopeful that the Government will reconsider our case.”
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