LDV: The wait goes on for staff

May 14 2009 by Vicky Farncombe

Judge David Cooke was yesterday told by Brian Rawlings, for LDV, that confirmation on a loan had not yet been signed.

But, if approved, the banking facility of up to £5 million, guaranteed by the Government, could save up to 850 directly-employed workers and thousands more in the supply chain.

The court hearing was first adjourned last Wednesday, just hours after it emerged that the Government had offered a bridging loan while talks with Weststar continued.

The factory has been at a standstill since before Christmas and there have been growing fears about its future.

LDV’s management issued a statement last week thanking the Government, Birmingham MP and Cabinet Office minister Liam Byrne and other “key parties”: “We appreciate this is a difficult time for the government but this support allows time for negotiations to be concluded to secure thousands of British jobs.”

LDV informed workers through its blog yesterday that there may be delays to wage payments because of the number of parties involved and the processes required to release funds.