Westfield Sports Cars have gone into Administration

[KugaWestie]

33 minutes ago, Scott Young (Captain Colonial) - Club Secretary said:

 

It's the lack of cash at £25k, plus £1.73m in liabilities...

Exactly this, and no cash for the last few years by the look of it

 

Sad times

[LoneWolf]

Oh my 😮

So glad I've got my order sorted last month.

Really hope someone passionate takes over the kitcar stuff (cough cough MK cough cough)

[TAFKARM]

I can’t say I’m surprised sadly. 
 

I am surprised they didn’t split autonomous and sports cars and just wind sports cars up though. 

[Rhett Turner - Black Country AO]

Guess if they've limited cash and a list of creditors wanting their money, especially if HMRC is in the mix, those creditors may have forced the issue.

 

I'd have thought with the, supposedly, healthy Chesil order book, and what looks to be quite a well sorted car, they'd have a future. 

[Steve (sdh2903)]

Sad times. I just hope all the guys and girls move on to new employment swiftly.

 

17 minutes ago, Rhett Turner - Black Country AO said:

I'd have thought with the, supposedly, healthy Chesil order book, and what looks to be quite a well sorted car, they'd have a future. 

 

I'd think someone wanting to take that side on alone would make it work. There are companies out there making profits with these types of cars (at a lower price too). Its those liabilities that are the issue.

[NigelO]

Westfield Technology Group's liabilities appear to be almost exlusively to its ultimate owners, Potenza Enterprises Ltd (about £2m at the end of 2021)

[jeff oakley]

Watch out for a pre pack management buyout? They will have struggled for the last two years as people could not try to buy so it does indeed appear cash flow has killed it.

 

It sort of explains the lack of focus some mentioned against the likes of MK. I hope the guys get jobs as soon as possible as no one wants this to happen

[LiamMc]

chip in then boys ive email the administrators

[Captain Colonial]

It comes to something when the WSCC is more cash fluid than WSC Ltd - and no, I’m not proposing the club buys WSC Ltd.

[Benrobson2999 - Kent AO]

Such a shame. Really glad I finished my build. I feel for those mid way through their builds. There’s still parts I wanted in the future. Let’s hope someone does take over and keep the established brand going

[Lee1980]

Shocking news. I've just finished my build but have parts still on order with them to fit post IVA. I'll contact the administrators but won't hold my breath.....

[Kit Car Electronics and Essex AO]

well the jigsaw does all fit together now sadly - a few years back we spotted a 'for sale' advert for them, we've seen over-extended promises that never delivered, like GTMs and EV 7's - plus an inability to rise to the challenge of the newer manufacturers. Autonomous vehicle is the biggest black-hole for investment in the automotive world that not even the likes of Tesla have mastered, let alone a small KIngswinford company 😞 

[LoneWolf]

Westfield probably is, after Caterham, the most established brand of sevenesque kit cars, with owners all around the world. I'm sure all of this won't be lost, someone will take over even in those difficult times, someone have to do that.

[Dave Eastwood (Gadgetman) - Club Chairman]

Terribly sad news for all those employees, many of whom have become our friends over the years.

[Exitus]

That's really sad. Fingers crossed that someone else takes it on.