Written by Paul Bicknell on 03 May 2012« Return to Reading Room
Yes 3 quid. That is what former MG Rover employees have been reported to be receiving by way of "compensation" after a seven year battle for redundancy payments.
There was a trust set up in 2005 to "...place a fortune into the benefit of all the employees.". It was also reported that the trust would be circa £50 million.
It appears that the trust will have to ask for more money. It seems that the Phoenix four, who were reported to have purchased the company for £10 over a decade ago, have been asked to make a contribution.
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