- ArticleVertu's UK manufacturing unit is slammed, 200 lose their jobs
Vertu's UK manufacturing unit is slammed, 200 lose their jobs
The British luxury smartphone maker Vertu
has been manufacturing the devices clothed with titanium, and sapphire glass and, these were built keeping the super-rich in the mind. Their smartphones hold a price tag of around £10,000 that goes up to £280,000 for jewel decorated devices.
Yesterday, the news came that Virtu will have to liquidate its UK-based manufacturing company as it has failed to cover its £128m debt, out of which Vertu's owner Murat Hakan Uzan intended to pay £1.9m. The company's eradication will result in the loss of nearly 200 jobs. However, no other part of the group is affected.
One of the spokesmen for the Vertu stated;
“Our best efforts to achieve a pre-pack administration have failed because the financial requirements specified within the negotiations went beyond the point where the new company had a chance of financial viability"