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UK government rejects £150m McLaren loan request
The UK government has rejected a £150million loan request from the McLaren Group - which owns the McLaren Formula 1 team - to help it through the ongoing COVID-19 pandemic. According to a report by Sky News, McLaren saw its funding plea rejected earlier this week and was informed of the decision by the Department for Business, Energy and Industrial Strategy. The McLaren Group is understood to have been seeking a commercial loan from the taxpayer for funds from the government, which is also holding talks with other big companies including Virgin Atlantic, which announced it is to cut more than 3,000 jobs in the UK due to the coronavirus crisis which has placed great strain on the airline...
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