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| LDV sends staff home as end nears | LDV sends staff home as end nears |
| (30 minutes later) | |
| Staff at struggling van maker LDV have been sent home from work, after the firm applied to enter administration. | Staff at struggling van maker LDV have been sent home from work, after the firm applied to enter administration. |
| Employees have been paid up to the end of last week, it said, but the firm could not confirm any further payments. | Employees have been paid up to the end of last week, it said, but the firm could not confirm any further payments. |
| Birmingham-based LDV employs about 800 people in its factory - though most have been on reduced hours during 2009. | Birmingham-based LDV employs about 800 people in its factory - though most have been on reduced hours during 2009. |
| Chief executive Evgeniy Vereshchagin said LDV would continue to look for funding until 6 May when it is due to formally go into administration | Chief executive Evgeniy Vereshchagin said LDV would continue to look for funding until 6 May when it is due to formally go into administration |
| There are also about 1,200 people employed in dealerships, with LDV estimating "several thousand" people are employed by its suppliers. | There are also about 1,200 people employed in dealerships, with LDV estimating "several thousand" people are employed by its suppliers. |
| 'Exceptional conditions' | |
| LDV has been holding discussions with UK government ministers over possible government support for a management buy-out and a bridging loan enable it to secure funding from the European Investment Bank. | |
| It said that it had been relying on the goodwill of suppliers to stay afloat, but that it had run out of money. | |
| "During the past few weeks, the global economic crisis has forced us to operate in exceptional conditions and we cannot continue in this position without funding indefinitely," Mr Vereshchagin said in a letter to staff. | "During the past few weeks, the global economic crisis has forced us to operate in exceptional conditions and we cannot continue in this position without funding indefinitely," Mr Vereshchagin said in a letter to staff. |
| Malaysian investor, Westar, had been interested in the company - but LDV said it was now unlikely to invest. | Malaysian investor, Westar, had been interested in the company - but LDV said it was now unlikely to invest. |
| Last month, Erik Eberhardson, the chairman of LDV's Russian owner Gaz, said he believed that LDV could be saved and that a management buyout was the best option. | Last month, Erik Eberhardson, the chairman of LDV's Russian owner Gaz, said he believed that LDV could be saved and that a management buyout was the best option. |
| The cancellation of the 2010 British International motor show and a record drop in UK car production are the latest signs of trouble for a sector that has experienced tough times for months. | |
| Do you work for LDV? How have you been affected by the firm's problems? Send us your comments and experiences using the form below. | Do you work for LDV? How have you been affected by the firm's problems? Send us your comments and experiences using the form below. |
| A selection of your comments may be published, displaying your name and location unless you state otherwise in the box below. | A selection of your comments may be published, displaying your name and location unless you state otherwise in the box below. |
| The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions | The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions |