Small companies who supply parts used in Jaguar Land Rover cars have been asked by banks to put up their family homes as personal guarantees in order to access emergency loans, with no direct UK government support on offer for parts makers a month after the carmaker was hit by a crippling cyber-attack.
JLR, Britain’s biggest automotive employer, is considering making advance payments to top-tier suppliers as it tries to restart production after the hack, but smaller parts makers warn they are on the brink of collapse without urgent cash injections.
