Lola in admistration

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Lola in admistration

Postby driftwood » Wed May 16, 2012 12:57 pm

The Board have put Lola company into administration
time to pass round the hat and we can buy the company?? !! :D

Statement from Lola Group Holdings Limited :(

Lola Cars International Ltd was formed in 1958. In recent years, significant investment has been made in technology and capability in the motorsports business as well as diversifying and creating Lola Composites Limited, serving the defence, aerospace, communications, renewable energy, automotive and motorsports markets.

The latest economic downturn and the decision of HMRC not to pay ongoing R&D tax credits has caused a serious cashflow problem for the businesses. It is with enormous regret that a decision has been taken to issue Notices of intention to appoint an Administrator to Lola Cars International Limited and Lola Composites Limited. This step allows the board to continue its discussions with possible investors and prospective purchasers with a view to securing the best outcome for the staff, creditors and customers of both businesses.

The Lola board have declined to make further comment until Monday 21st May.
"is it in yet" said the mechanic to the apprentice
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Re: Lola in admistration

Postby Gerald Swan » Wed May 16, 2012 1:08 pm

And don't ask me what's going on as I have no idea. I only work for the bloody company :( .

All I can say is that if the worse comes to the worst I shall try and make sure the Heritage site keeps going.

Gerald.
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Re: Lola in admistration

Postby robinhen » Thu May 17, 2012 11:50 am

A good oportunity to set up a heritage trust to ensure that historic archive matial is not lost or destroyed with any change of ownership.
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