John Towers (businessman) Nick Stephenson and John Edwards, Towers formed Phoenix Venture Holdings (PVH) which bought Rover Group for £10 in April 2000. In addition they also bought the Studley Castle, a conference hotel. They subsequently purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with an undisclosed sum from the Royal Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans. Kevin Howe was appointed MG Rover's Managing Director in July 2000. In April 2005, MG Rover went into administration, following the collapse of takeover talks with Shanghai Automotive
Robert Stephenson and Company as the Stephenson Quarter. The landlord fronting this operation was initially Silverlink Developers. As part of their commitment to the area's heritage they have been hosting a once monthly opening of the South Street buildings housing a music, food and drink festival branded as the Boiler Shop Steamer. Councillor Nick Forbes, leader of Newcastle City Council, visited the development on 8 April 2014 to give the city's seal of approval to the project. In the same month the developers Silverlink morphed into the Clouston Group. Robert Stephenson and Company Robert Stephenson and Company was a locomotive manufacturing company founded in