AUTOS: Rolls-Royce, Anyone?

It looked like the ultimate humiliation for Rolls-Royce Motors Ltd. In late March, the famous company was put on the auction block—and last week it developed that nobody wanted to buy it at a price acceptable to Bankruptcy Receiver Edward Rupert Nicholson. He had asked companies interested in purchasing Rolls to submit sealed bids, which were opened last week. No foreign company made a bid, because the British government would not have let a foreign purchaser use the Rolls-Royce name. Ten British bids were received, but all were below the $120 million or so that London financiers once estimated Rolls-Royce...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!