Administrators of collapsed car group MG Rover say it is suffering heavy losses and they are seeking to resurrect talks with China's Shanghai Automotive Industry Corp.
"The joint administrators work has indicated that the companies are incurring very significant losses, estimated at between £20 million and £25 million per month," said PricewaterhouseCoopers in a statement today.
There were no plans to resume car production, the administrators said. In the meantime, they are trying to resurrect collapsed talks with SAIC regarding investment.
"We now seek to engage in discussions with SAIC as soon as possible," said joint administrator Tony Lomas.
