The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
London, Manchester, Leeds, Edinburgh, Glasgow and Coventry
Sector
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
156 jobs Number of planned job losses
Announcement Date
31 October 2012
Employment effect (start)
31 October 2012
Foreseen end date
Description
Iconic black cab maker Manganese Bronze has gone into administration and made 156 staff redundant with immediate effect. Both the head office and manufacturing site in Coventry are being affected by the job losses, as are plants across the UK.
A combination of poor sales, high warranty costs, accounting errors and a recall of over 400 vehicles as a result of a steering fault have been blamed for the failure of the company.
Sources
31 October 2012: BBC News
Citation
Eurofound (2012), Manganese Bronze, Internal restructuring in United Kingdom, factsheet number 74441, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74441.
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