Jaguar Land Rover have successfully secured an 18 month lifeline after running up loses of over £1.2bn in the past 12 months.
The car firms latest filed accounts show they have secured a £600m bank facility that will enable them to keep trading until the end of next year.
JLR were within days of defaulting on loans when it negotiated an extension which will hopefully secure hundreds of jobs at its Halewood plant
JLR was within days of defaulting on its loans before it negotiated an extension with its syndicate of more than 20 banks.
JLR is still hoping the government will underwrite a £340m European Investment Bank loan which will be used to develop new models such as the 60 miles per gallon LRX concept vehicle.
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