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[Autocar] Group Lotus being liquidated


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Bloody hell! I don't know. I turn my back for an hour and a half to play on my synths and the place goes to hell in a handbasket. Hopefully, it's sorted and things can move on.

 

Whatever those things are, as no-one is telling us. :(

All we know is that when they stop making this, we will be properly, properly sad.Jeremy Clarkson on the Esprit.

Opinions are like armpits. Everyone has them, some just stink more than others.

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I said in another post but last week suppliers who haven't been paid in months all got their money. Just what I heard locally from suppliers who hadn't been paid in ages. The rumours were they wanted to start from a clean sheet. If its anything to do with the fiasco of letting the fuel tank company going bust then realising the production line would stop and it has ended up costing more trying to set up fuel tank manufacture I dont know!!!

 

Buddsy

 

"Belief is the enemy of knowing" - Crrow777

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So how many more companies that have sorted their differences with Lotus 'amicably' are still trying to get what's owed to them? I doubt Art Grand Prix simple forget they'd placed a winding up order. DRB need to get people behind them, trusting in the future of Lotus, this isn't the way to go about it. 

Edited by Stirling_Villeneuve

Currently having an illicit affair with another marque, be back in the fold one day... B-)

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But Stirling, if this is a legacy of an already listed action, that may have been poorly investigated and reported by autocar to move magazines (I know, they don't do that :innocent:  ), then there is no issue and it should be over and done with in court quite quickly.

"Are you the petitioner?"

"Yes, but we sorted it weeks ago your Honour."

"Is that true Mr. Group?"

"Yes your honour."

"Oh Ok. Get out." :)

 

"Oh, and Mr. Group?"

"Yes your honour."

"I'll have an Exige S in arctic white thanks."

All we know is that when they stop making this, we will be properly, properly sad.Jeremy Clarkson on the Esprit.

Opinions are like armpits. Everyone has them, some just stink more than others.

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The petitioner is Art Grand Prix SAS, a french firm Lotus partnered with to create GP2 and GP3 racing teams.

Shite, I just posted last week that most of the motorsports deals had been terminated... Well I hope Lotus dotted the lines better than that with their WSR and F3 partners. If not they may go back to court very soon.

 

The problem Lotus has is that since the previous management got ousted they completely lost control of the narrative. the new guy in charge obviously does not have power of decision, will not or cannot talk to the media.

 

They are not proactive at all in their communication and the company is over exposed. The amount of damage is ridiculous!  Especially if as Alastair Florance claims it, the situation has been resolved privately weeks ago. 

 

A simple PR explaining that due to some reasons, Group Lotus PLC had to terminate the partnership/sponsorship with Art GP (which was no secret - Art GP did not use the livery and reverse to their own name) It could have ended in good terms, at least in the public eye.

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Official Statement from Lotus -

 

Contrary to rumours initiated by Autocar, Lotus is not being liquidated.


Earlier this year, Lotus was in a contractual dispute which was resolved amicably a number of weeks ago. However the High Court process meant that the matter was still shown on the High Court website, as there was a hearing scheduled for today. This is what appears to have been seen and misunderstood. The case was only listed for the proceedings to be disposed of.


The claim has now been dismissed with no order as to costs.

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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That's nice to see, unfortunately not many will see that as "news" and so the rubbish has now gone in and will take months for many to stop treating it with credibility, for some that will be a lifetime before they stop taking this as a sign of Lotus going under.

 

When I spotted the headlines (on another forum) my thoughts were for those who have worked there for ages and would then possibly on get statutory redundancy package or worse, the creditors who are small firms for whom a loss of any amount hits their bottom line profits and potential causes other firms to fail. Thankfully that's not the case for this.

 

 

Thinking back to Reliant, I think they were brought down by the manufacturer of the steering wheels.

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http://www.topgear.com/uk/car-news/lotus-face-winding-up-application-2013-3-8

 

Unfortunately, this, and many stories like it in national papers, will contribute to a vision of Lotus in disarray, as seen by the public eye. DRB/management have got to be more pro-active and get a message out as to Lotus's future in order to stabilise consumer/public confidence.

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I don't think it's a matter of time but I do think that Autocar have been irresponsible in not getting the story and that Lotus have been naive in not heading it off before it came out.

 

Like Sterling says the damage has been done and it just makes people and suppliers that bit more on edge.

 

I'd want a written apology in Autocar as a starter for 10!

Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

Distributor for 'Every Male' grooming products. (Discounts for any TLF members hairier than I am!)

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''Thinking back to Reliant, I think they were brought down by the manufacturer of the steering wheels.''

Andy - I bloody hope Lotus (and am certain they are!!) are stronger than Reliant. If your steering wheel manufacturer can bring down you company then after shooting your finance director I think I would give up.

Of course the brand name had no real value with Reliant I would guess- Lotus are lucky in that (And may I say I like Scimitars actually!)

Mark

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It does say this in the Autocar piece..........Did anyone bother to read it?

 

 

The High Court process means that the matter still has to be completed before a judge before proceedings can be formally disposed of. Today the claim was dismissed with no order as to costs.

Whats all the fuss?

Caught between a rock and a hard place in a catch 22 situation, So its 6 of one and half a dozen of the other. Your damned if you do, but your damned if you don't so shut your cock!!!!!!!!!!!

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They've changed the title & text at least 3 times today Piggy. 

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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When did Autocar/Haymarket start their anti Lotus campaign? It wasn't that long ago they were hand in hand mucking about with the 340R design, but these days they'll take any opportunity they can to snipe away at Lotus. What gives?

 

Has there been some sort of Ferrari-esq behind-the-scenes disagreement?

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Google 'Lotus' and it's so depressing....

 

 

 

6.jpg
 

  Group Lotus denies liquidation claim

Telegraph.co.uk-1 hour ago
Lotus has denied a number of stories suggesting that it could be liquidated. Group Lotus PLC was one of the names on today's Companies ...
Followed by....
 
Raikkonen: Lotus got it 'exactly right'
The Guardian-20 hours ago
 
 
What a total f^ck up. 
Edited by Stirling_Villeneuve

Currently having an illicit affair with another marque, be back in the fold one day... B-)

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They've changed the title & text at least 3 times today Piggy. 

 

 

Ahhh i see :-)

Caught between a rock and a hard place in a catch 22 situation, So its 6 of one and half a dozen of the other. Your damned if you do, but your damned if you don't so shut your cock!!!!!!!!!!!

Lotus Espirt Turbo S3    

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Lotus Elise S2 Sport 130

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As a Lotus enthusisat, I've replied to the Autocar article...

 

"You'd of thought, in the current economic climate here in the UK, that Autocar would be a little more mindful about what it initially writes, and the far reaching consequences of sensational journalism.

 

Also, is it too much to ask that a British automotive publication actually supports the worlds greatest handling, everyday, sports car manufacturer. One that just happens to be British. Instead of what appears to be constantly taking pot shots at it. Or do you not care about British jobs?

 

I'm immensely proud that we're lucky enough to have a BRITISH car manufacturer, that can take on the corporate giants - with their stratospheric development budgets - and still give them a bloody nose in the handling and feedback department. Just look at the V6 Exige S. Long live Lotus, poor form Autocar. Poor form indeed.

 

Proud to be British, because it's British jobs that are at stake.

 

Now, let's get behind Kimi too, because it can only help UK jobs - jobs at both Hethel & Enstone."

 

It wouldn't hurt to let them know what you think yourself.  ;)

 

http://www.autocar.co.uk/car-news/industry/group-lotus-winding-order-dismissed-high-court

Edited by jimsayshi
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More nonsense: http://www.autoblog.com/2013/03/18/lotus-bankruptcy-case-dismissed-in-uk/

 

The report says that the case was initiated when Group Lotus failed to pay some of its debts, which is probably a fair indication that Lotus is far from out of the weeds in regards to its financial difficulties.

'86 Lotus Esprit Turbo

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Nicely done :)

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

Evora NA

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Pistonheads didn't clear up anything.  They only restated the previously stated stuff in a different way like internet journalists typically do.

 

They did however indicate that Group should be making some kind of official statement

Kyle Kaulback

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From the topgear story:

 

We’d dearly love to know what that strategy is, and recommend that DRB-Hicom share it in full as soon as possible. With no news at all on the long-delayed new Esprit and its all-new V8 engine, and the departure of Lotus’s brilliant Chief Technical Officer Wolf Zimmerman, among other engineering staff, the bigger the information vacuum becomes, the more damaging it is for the company and its prospects.

 

Well they have a point don't they? Never mind that Autocar prints a misleading story. The point is that it sounded credible given the utter vacuum of news about what's going on at Hethel from the company itself, that the newest car launched can't even be sold into one of the biggest car markets in the world and the almost total lack of marketing budget now. When the biggest story seems to be how the company has managed to avoid having to spend a few million meeting revised regulations for the only car it presently sells in the US, you know that the underpants are well and truly wedged up their bum.

 

Without wanting to defend today's articles, Autocar has put plenty of effort into promoting Lotus over the years. It's not the case that they give Lotus a bad press - I've read lots of positive things about Lotus over the years - most of it hopelessly and naively parrotting the claims of the company itself, which as we all know often turn out to be pipe dreams.

 

In short, FFS Lotus tell us what on earth is going on. The silence actively damages your prospects, and the story today of "We screwed our suppliers to the point where they had no choice but to take us to court but we've silenced them for now" is not a positive story. It's a story of a company desperately on the edge.

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