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 bid when the Government added extra conditions to the sale, and a march through Birmingham led by Prof Carl Chinn opposed the Alchemy bid. On 6 April 2000, John Towers — the most prominent of the four men known as the Phoenix consortium — presented a counter-offer to BMW. The Transport and General Workers Union (T&G), the UK Department of Trade and Industry (DTI), and the British public in general all threw their support behind Towers and the Phoenix Consortium, as Phoenix were the only potential bidders proposing to retain high-volume car production and full employment at the Rover plant