Van insurance news
02/03/2009

LDV requests emergency cash

Van insurance customers who are committed to finding eco-friendly vehicles were this week disappointed to learn that LDV, manufacturer of "green" vans, has requested around £30 million in bridging loans in a bid to escape collapse.

However, it is not van insurance customers who have the most to fear from a potential collapse of the company; it is estimated that a worst-case-scenario outcome could lead to nearly 6,000 UK workers losing their jobs

A spokesperson from LDV's parent company, Gaz, commented, "The company is literally running out of cash right as we speak."

A spokesperson for the Department for Business said that it is continuing to support the manufacturer, "We have been in close discussions with all the automotive sector, including LDV, which employs some 800 workers in the Midlands. We have provided considerable support to LDV in recent years and continue to offer them help, including assistance with their application for funding from the European Investment Bank."

However, with the company's failure to make a profit for four years, consumers may be beginning to worry that getting a van insurance quote for an LDV commercial vehicle may soon become a thing of the past.