Whatever situation the Italians inherited is probably imaterial.
A big chunk of any losses have to be due to poor quality components, lack of R & D and poor build quality.
No business can survive if it's products are perceived as low quality relative to their cost.
Reputations, however hard won, can be lost very quickly. Creative accountancy can only cover up so much......
If MMC are to survive and thrive, and offer a modern affordable British sports car it looks like Italian money is needed to keep the dream alive..........