John Towers (businessman) ground until it finally collapsed with the loss of 6,500 jobs. PVH gave members of management "unreasonably large" payouts, a government-commissioned report found, which were "out of all proportion". Towers awarded himself £8.958m whilst many employees lost their lifetime jobs - leaving with nothing. Nanjing Automobile subsequently brought MG out of administration, but have since moved production to China. John Towers (businessman) John Towers CBE (born 30 March 1948) is an English businessman, who was the owner and managing director of MG Rover Group from 2000 until the company entered administration in 2005. This followed a succession of senior appointments
Phoenix Venture Holdings further accused Mr Beale of giving "untruthful" evidence during interviews. In return the Directors have accused the findings of being a whitewash and a witchunt, and it remains unknown the exact details of the actions of key Government Ministers at the time of the collapse. Conservative business spokesman Kenneth Clarke said it was right the report criticised the Phoenix Four, whose behaviour was "disgraceful". Lord Mandelson said the Phoenix group had not shown an "ounce of humility" about the firm's demise and they owed an apology to the firm's employees and creditors. However his comments that steps will be taken