Birmingham's historic LDV close to collapse

Apr 30 2009

BIRMINGHAM-based van company LDV, which has a history stretching back more than 100 years, is close to becoming the highest profile casualty of the recession.

Its directors applied for administration, raising fresh fears that 850 workers will lose their jobs.

LDV said the case will be heard in court on May 6, leaving just a week to secure funding and save the jobs, as well as hundreds more in dealerships and supply firms.

The firm, which has not built any vehicles since last year after its Russian owner Gaz decided to sell the business, said it could not confirm any further payments for employees, who have been paid up to the end of last week.