The troubled sports car firm TVR has been sold back to its previous owner, sparking anger among union officials. The Blackpool-based company went into administration just before Christmas, leaving the future of the plans and almost 300 workers' jobs in doubt. Nikolai Smolenski bought the firm from the administrators after making the highest bid, it emerged on Thursday. The Transport and General Workers Union (TGWU) said it was absurd the Russian tycoon was allowed to buy it back. Andy Robertson, the union's regional organiser, said: "If this means that manufacturing is taken out of Blackpool it will be a disaster for the area."
See "Union anger as TVR 'bought back'", BBC News, BBC News Online, February 21, 2007