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 LONDON (AP) - MG Rover Group arrived at the end of the road Friday as administrators for the stricken company — Britain's last major car manufacturer — said they intend to break it up, laying off 5,000 workers, after the Shanghai Automotive Industry Corp. made clear it was not interested in a joint venture.
Rover's downfall was precipitated by the failure of talks with China's state-owned SAIC about a joint venture, and renewing the negotiations had been seen as the best chance of saving the company and the jobs of some 6,100 workers at its Longbridge factory in central England.
PricewaterhouseCoopers, which was appointed to oversee the company's future after it closed the plant and filed for a form of bankruptcy a week ago, said there was now no prospect of a sale of the company as a going concern to SAIC or anybody else.
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