free hit
counters
[Autocar] Group Lotus being liquidated - Lotus / Motoring / Cars Chat - The Lotus Forums #ForTheOwners Jump to content


[Autocar] Group Lotus being liquidated


Recommended Posts

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

Upgrade today to remove Google ads and support TLF.
  • Replies 101
  • Created
  • Last Reply

Top Posters In This Topic

After the euphoria of Kimi's win yesterday, you'd think there was some life left in the name Lotus... if this really is the end it's a very sad day indeed.  


 

Edited by Stirling_Villeneuve

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

Link to post
Share on other sites

I've asked the factory for comment, they are investigating.

 

A creditor can ask for a company to be wound up over a debt, I'd imagine that with the much reported parts shortages due to supplier non-payment, this is the cause of this. 

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

Desperately hoping this is 'just' another company, i.e. a supplier, who has issued a winding up order. Lotus need to get a statement out and fast!

Link to post
Share on other sites

Sh*t.

 

However who knows if this is A) entirley credible and B) if it does happen someone might pick up the pieces and do something good with them (such as Genii?).

 

Definitely a real kick in the face after yesterday.

Link to post
Share on other sites

There's nothing being said here and the staff definately don't know. Is this an application by a creditor as they haven't been paid?

 

I don't think DRB have done this.



I must say it's very irresponsible of Autocar to print this without actual confirmation, especially as any creditor reading it will be doing something similar now.

 

In business it's something as small as chinese whispers that can push a struggling company over the edge.

 

I could be wrong but I don't think I am.

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!)

Link to post
Share on other sites

http://www.justice.gov.uk/courts/court-lists/list-companies-winding-up

 

^ Click that link Kimbers, it's not speculation. That said, I've no idea of the liquidation process and if it can be reversed although I do know that a multi-million £ company can be liquidated over an unpaid £5 debt kinda idea...

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

I'm not saying it's incorrect merely misleading. It could easily be a creditor for £1000 who isn't being paid and decided this was the only way to get what he wants.

 

That said, it could be true, but Group Lotus PLC is the whole kit and Kaboodle and why would DRB liquidate Engineering and other profitable parts.

 

Doesn't make sense.

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!)

Link to post
Share on other sites

If you liquidate a company presumably you wipe the slate clean of the debts, no redundancy packages required, the owners can walk away and leave the creditors fight over the scraps. 

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

Link to post
Share on other sites

Group Lotus PLC was worth over £106m as of last years accounts. Very strange...

 

http://companycheck.co.uk/company/00606189#accounts-tab

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

I just can't see it Stirling. If it was the owners they would prob close down Cars and keep Engineering etc. It would be very interesting to see who the applicant is!

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!)

Link to post
Share on other sites

Latest update! 

 

An application to wind up Group Lotus plc will be heard by the HM Courts and Tribunals Service today, although the Norfolk-based sports car company says there is no chance of it being liquidated.

 

According to today's Companies Court Winding Up list, Group Lotus – which comprises Lotus Cars, Lotus Motorsport and Lotus Engineering – will go before Registrar Baister in Companies Court this morning.

 

Such cases are often the result of a creditor or group of creditors seeking to have a company's assets liquidated as a result of failure to pay debts.

 

However, Group Lotus spokesman Alastair Florance told Autocar the appearance of Group Lotus plc on the Companies Court Winding Up list was the result of a contested petition from a supplier which “was settled amicably several weeks ago”.

 

Group Lotus will not be wound up, or liquidated, says Florance. The petition still exists on the court lists because once the process begins, it has to be completed before a judge. Group Lotus plc is expected to issue a statement on the matter shortly.

 

The bosses of the Lotus F1 team are keen to stress that the changes do not involve or affect them at all. Permissions for the use of the Lotus name on the current F1 car, however, come from a deal with Group Lotus plc.

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

 Keep Calm and Carry on!!

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!)

Link to post
Share on other sites

Well that was an exciting hour! :huh:

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

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

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

For forum issues, please contact the Moderators. I will aim to respond to emails/PM's Mon-Fri 9-6 GMT. 

Link to post
Share on other sites

All very strange. Perhaps this is some smoke and mirrors act to offload the company to a new owner, but debt free.

 

Let's hope there is enough money and motivation for dealing with the cause of all this......  Look out Dani Boy, I would be watching your back if I were you!

Link to post
Share on other sites

And I thought it was you Bibs, going after that unpaid expense bill. :smoke:

If you have the choice between a Stairway to Heaven and a Highway to Hell don't forget the Nomex®!

Captain,  Lotus Airways. We fly lower! 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



Upgrade today to remove Google ads and support TLF.


×
×
  • Create New...