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| Talks to save struggling van firm | Talks to save struggling van firm |
| (1 day later) | |
| Talks were being held with two potential overseas investors in a bid to save the struggling Birmingham van maker LDV, the government confirmed. | |
| Staff at the Department of Business, Enterprise and Regulatory Reform said it would hold talks on Saturday. | |
| Earlier, the office said it would speak to possible investors to find out more about "their level of interest in LDV". | Earlier, the office said it would speak to possible investors to find out more about "their level of interest in LDV". |
| Up to 850 jobs are under threat at LDV, which has suspended production since December because of falling sales. | Up to 850 jobs are under threat at LDV, which has suspended production since December because of falling sales. |
| Earlier this month, workers at the factory agreed to a 10% pay cut and three-day week in an effort to save the firm. | Earlier this month, workers at the factory agreed to a 10% pay cut and three-day week in an effort to save the firm. |
| Investment call | Investment call |
| On Friday, LDV said a management buy-out of the firm was still an option, despite earlier reports that it had fallen through. | On Friday, LDV said a management buy-out of the firm was still an option, despite earlier reports that it had fallen through. |
| Erik Eberhardson, the chairman of LDV's Russian owner Gaz, said he believed that LDV could be saved and the management buyout was the best option. | Erik Eberhardson, the chairman of LDV's Russian owner Gaz, said he believed that LDV could be saved and the management buyout was the best option. |
| There are fears that if the company is bought by an overseas investor, production could leave the UK. | There are fears that if the company is bought by an overseas investor, production could leave the UK. |
| The company has asked the government for a bridging loan to restart production and develop a new vehicle. | The company has asked the government for a bridging loan to restart production and develop a new vehicle. |
| But government officials have told the BBC that any financial support for LDV would only be made on a "reasonable risk for taxpayers' money". | But government officials have told the BBC that any financial support for LDV would only be made on a "reasonable risk for taxpayers' money". |
| The government said it had already invested £25m in the plant, rescheduled tax payments and got agreement for a rent reduction. | The government said it had already invested £25m in the plant, rescheduled tax payments and got agreement for a rent reduction. |