MG Rover liquidators recover another £44m

5,300 former MG Rover workers will share around £44m later this year after liquidators recovered a chunk of money 13 years after the car giant collapsed.

The manufacturer collapsed in 2005, putting around 6,000 people out of work.

Liquidators from PwC continue to work on chasing money and have now succeeded in recovering the additional money.

Matt Hammond, who now heads PwC’s Midlands region, told the BBC the payout will be “equivalent to about another 50% of what they’ve already received, which is obviously a good windfall at this stage of a liquidation process”.

He expects the money will be distributed by the end of 2018. The latest sum will increase the amount recovered to more than £200m.

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