Share this story
Close X
Switch to Desktop Site

Plan to rescue British MG fails for lack of financing

It's goodbye to the MG sports car. A British consortium formed to rescue the famous MG name from extinction admitted this week it had failed to raise the necessary cash. So BL Ltd., the car's manufacturer, which loses $2,000 on every MG it sells in the United States, said it will close the production plant at Abingdon and fire its 820 workers.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.