Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Jaguar Land Rover Automotive Plc is trying to clear a backlog of payments owed to suppliers to ease a crisis caused by a cyberattack that’s brought the carmaker’s factories to a standstill, according to people familiar with the matter.
The British automaker’s systems were brought down by the hack, leaving it struggling to pay suppliers — many of which are small manufacturers reliant on JLR’s business. In recent days, JLR has paid roughly £300 million ($405 million) to partners and aims to clear the backlog by the end of the month, one of the people said, asking not to be identified discussing confidential information.