TVR is to end production at its Blackpool factory.
After months of speculation, the company (which was bought in 2004 by Russian investor Nikolai Smolensky) will soon shut its gates with the loss of up to 260 jobs.In a statement today, Smolensky announced that the closure of the Blackpool factory was the only way to secure the future of the company.
The news comes as a particular blow to TVR workers, because staff were told in April that production in Blackpool would be relocated to new premises in Lancashire.
With 2,300 jobs due to go at Peugeot's Ryton plant early next year, the news from TVR is another major dent to the British car industry.
Smolensky added that TVR cars would be produced in Europe with British-built engines in future.
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