News Details
McLaren set to take loan from Bahrain bank
Carlos Sainz tests for McLaren during pre-season The cash-strapped McLaren is reportedly set to receive a loan from the National Bank of Bahrain (NBB) amid a legal stoush with existing lenders. Court documents lodged by the British marque reveal that it needs further liquidity by mid-July following a slump in road car sales due to the COVID-19 pandemic. Despite the threat of imminent insolvency, note holders are as yet unwilling to release security for new loans and/or sale and leaseback agreements, leading to the legal proceedings. The NBB could therefore step in to provide a lifeline, according to reports from the BBC and Sky News (United Kingdom). McLaren and the NBB share a common...
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3y ago from SpeedCafe.com
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