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MG Rover bosses banned in car financial disgrace

The ‘Phoenix Four’ bosses who were in charge when MG Rover collapsed have been banned from working as company directors for a combined time of 19 years.

The ‘Phoenix Four’ bosses who were in charge when MG Rover collapsed have been banned from working as company directors for a combined time of 19 years. The infamous heads were found out to be rewarding themselves with £42m in bonuses while the firm was grinding to an untimely death.

Car finance fans were told that the company owed £1.3bn to creditors when MG Rover collapsed in April 2005. Despite the ban, the bosses remain defiant that they never did anything wrong or detrimental to the company’s financial state.

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