[ROVERNET - UK] Latest Phoenix press release - the End!

[Peter Huttemeier]

On Sat, 16 Apr 2005 13:49:28 +1000, you wrote:



Latest Updates:

News Releases	
	
	Phoenix Venture Motors Limited - in administration - update
(18 April) 18/04/2005 17:47

Further to today's announcement that Tony Lomas, Steven Pearson and
Rob Hunt, partners in PricewaterhouseCoopers, have been appointed
joint administrators of Phoenix Venture Motors Limited (“PVM”), the
administrators have announced that three dealerships will close with
immediate effect.

Dealerships in Northampton (18 redundancies) , Oxford (25) and Muswell
Hill (43) London, have been closed today.

Rob Hunt, joint administrator and partner PricewaterhouseCoopers said:

'These closures reflect the results of our urgent review of PVM and
take into account profitability and sales potential. We will continue
to work with management to establish which of the remaining sites can
stay open and continue to trade so as to preserve parts of the
distribution channel for MG Rover cars.'

ENDS

Note to Editor:

PVM has eight further dealerships in the following locations: Preston,
Chorley, Coventry, Rednal, Bromsgrove, Kidderminster, Hatfield and
Romford.


Warranty
	
MG Rover Group Limited & Powertrain Limited - in administration -
statement; warranties and the dealer network 13/04/2005 07:00


Rob Hunt, joint administrator and partner PricewaterhouseCoopers said:

"We acknowledge the difficulties and uncertainty dealers now face due
to the administration. We wrote to all dealers yesterday morning (12
April) to explain the impact of the administration on the dealer
network.

"A review of the company's warranty arrangements has been undertaken
and has concluded that warranties continue in the first instance to be
a matter between individual dealers and their customers.

"We're aware that historically MG Rover has reimbursed repairers and
authorised dealers the cost of valid warranty claims. However,
following our appointment as joint administrators on 8 April 2005 the
company no longer has sufficient funds to reimburse warranties.

"Should customers wish to purchase warranty cover in the marketplace a
number of alternative providers are available. Most dealers will be
able to advise customers on how they could obtain this cover."





Cheers,

Peter H