Manganese Bronze have elected to go into administration, having failed to secure ongoing finance.
http://www.bbc.co.uk/news/business-20031436
Quote:
The company – which manufactures the cabs in China – employs 288 people in Coventry.
Manganese's chief executive, John Russell, had said the group needed several million pounds a month to stay afloat.
Manganese has failed to turn a profit since 2007.
The company has faced growing competition after cab drivers were given permission to use the Mercedes Vito, breaking Manganese's monopoly.
Japanese carmaker Nissan is also working on a version of the black cab.
|
From (and more at):-
http://www.guardian.co.uk/business/2...administration