250 jobs saved at JLR supplier as owner repays £10m loan
Some 250 jobs at a major West Midlands supplier to Jaguar Land Rover have been saved.
Sanjeev Gupta’s GFG Alliance has repaid a £10m loan owed by its subsidiary Liberty Aluminium Technologies (LAT) to Close Brothers, according to reports from Sky News.
LAT has bases in Coventry, Kidderminster and Witham, Essex. It makes parts for JLR and was put up for sale a month ago. In June, it was revealed that the firm was in crisis talks with Close Brothers to avoid collapsing into administration.
Earlier this week, it emerged that GFG was restructuring its operations, including the departure of its UK CEO.