New evidence on the De Lorean scandal
The Troubles in Northern Ireland – years of terrorist attacks by Irish Republicans and Loyalists – left the province economically knackered. There was a huge reliance on state funded jobs, compared to the rest of the UK, and high levels of unemployment. So when American entrepreneur and General Motors executive John DeLorean showed up promising to build a new car industry in Ulster, politicians fell over themselves to make it happen.
The DeLorean Motor Company, that he set up in 1973, had developed a very distinctive looking car with gullwing doors and stainless steel finish. One of his cars featured in the movie Back To The Future. I remember these cars well and hilariously a mate of mine driving one opened the door to wave as he drove past and the door flew off – fortunately not injuring anybody!
As we all know now – after setting up a production facility in Northern Ireland in 1978 to great cheers and goodwill, things started to go wrong. The cars didn’t sell and the company finances revealed a black hole. A new book on the ensuing scandal claims that Thatcher was informed about the discrepancies in the DeLorean accounts and refused further funding resulting in the loss of 1,500 jobs. You can read more about that new book by clicking HERE.
Here’s a crash test for a DeLorean back in 1980.