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McLaren secures vital £150m loan from Bahrain's national bank
McLaren's short-term future has been secured after confirmation of a £150 million loan from the National Bank of Bahrain (NBB). The British supercar manufacturer and Formula 1 team has been hit hard by the coronavirus pandemic, with its automotive business posting a £133 million loss for the opening quarter of the year as a result of stalled car sales, and these losses are expected to deepen when it posts its latest results next month. As a result the McLaren Group has been seeking a vital and urgent injection of funding to allow it to continue trading. So desperate has the situation become that the company launched legal action in London's High Court after plans to raise funds against...
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4y ago from MotorsportWeek.com
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