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The four former MG Rover directors, known as the Phoenix Four, have been banned from taking positions as directors of limited companies for between three and six years, the Department for Business, Innovation and Skills (BIS) has confirmed.

BIS said the "disqualification undertakings conclude the enforcement action by The Insolvency Service on behalf of the government".

The Insolvency Service had been investigating John Towers, Nick Stephenson, Peter Beale and John Edwards following the collapse of MG Rover more than six years ago with creditors owed almost £1.3bn and 6,000 jobs lost.

A BIS spokesman said: "It was the position of The Insolvency Service that taken as a whole, the overall conduct of the Phoenix Four made them unfit to be company directors.

"The service particularly highlighted the report’s findings in respect of the way the directors manipulated the assets and income streams through the use of companies in which they, rather than the creditors of MG Rover had an interest, allowing them to benefit through large salaries, dividends and profits."

Edward Davey, minister with responsibility for corporate governance and company law, said: "These disqualification undertakings represent a successful conclusion to a lengthy and complex investigation into the collapse of MG Rover.

"The outcome of this case serves as an important reminder that unacceptable conduct by company directors can result in lengthy periods of disqualification."

Peter Beale has been disqualified from acting in the management of companies for six years; John Towers and Nick Stephenson have each been disqualified for five years and John Edwards for three years.

All four have denied any wrongdoing.