Weststar may buy LDV's assets
Author: Robin Roberts
Published: 11 June 2009
Malaysian company Weststar - which pulled out of buying British van manufacturer LDV two weeks ago, consigning the company to administration – may buy up the company's assets.
Administrators PricewaterhouseCoopers have made 850 of LDV's staff redundant, retaining a skeleton staff to prepare the company's assets for sale.
Weststar is reportedly one of three potential buyers, and is thought to be interested in buying the company's assets, potentially moving assemblies out of the country.
Any company buying the assets of LDV will not inherit the company's liabilities, prompting fears that warranties will not be honoured.
5,000 people are still thought to be employed in the supply chain and in dealerships.
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