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LDV could be gone by the end of the week

March 18, 2009
British vanmaker LDV will go under within a week without government intervention, the man behind LDV's management buyout told Sky News

British vanmaker LDV will go under within a week without government intervention, the man behind LDV's management buyout told Sky News.

Erik Eberhardson saidthat LDV needed a temporary loan for the company to begin rolling out its new electric van. The company was recently turned down by the government after asking for a £30m loan.

According to Sky News, LDV suspended production in December due to poor sales, and the company hasn’t made a profit in four years. Russian automotive group Gaz, which owns the company, said it is unable to provide any more funds.

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Justin Carretta

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