What happens to Westfield Sport Cars?

[Mark (smokey mow)]

9 hours ago, stephenh said:

The irritating thing is that my reading of the company accounts is that the real drain on the cash resources was Westfield Autonomous Vehicles Ltd., ie the pod developer, which was hopelessly insolvent. Although Westfield Sportscars owed a large sum to its immediate parent, Autonomous in turn owed a similar amount to Sportscars.

So if the administrators saw fit, the Sportscar company is saleable on its own, whereas the autonomous vehicle operation needs a very different sort of buyer, with a deep enough pocket to complete its development and marketing.

That is my readings of the situation too. 

 

as Westfield autonomous vehicles are a completely separate company to the sports car business it does appear from the administration documents for both companies that they are being treated separately rather than trying to be sold together though.

 

reading between the lines for the sports car business I get the impression that they’re struggling to find a buyer that wants to take on everything (i.e. sports cars, Chesil, XI, GTM etc) but rather the offers they have had are only for certain parts. But that’s only my speculation.

[jeff oakley]

I would agree Mark, which is exactly what happened with the company I worked with. Chesil is saleable separately, as is Westfield Sports cars, but GTM just the name and the autonomous pod side is a money pit for years to come.

 

It all comes down to what is actually for sale as any new buyer needs to be turning a profit as soon as possible and lets be honest, the brand has been devalued and people will be wary of leaving big deposits again.

 

Time will tell 

[Exitus]

15 hours ago, Kit Car Electronics said:

I wonder what their product and process documentation is like - without any employees this will be critical to determine whether there's actually much value left to buy. 

 

Given the quality of their manuals (and the packing process for kits etc...) I'm assuming its somewhere between 'poor' and 'nonexistant'.

 

I always had the impression dealing with the factory that there were a few employees who had staggering levels of knowledge of ever part of the process, but it was all in their heads and never written down or passed on.

[Kit Car Electronics]

7 minutes ago, Exitus said:

 

Given the quality of their manuals (and the packing process for kits etc...) I'm assuming its somewhere between 'poor' and 'nonexistant'.

 

I always had the impression dealing with the factory that there were a few employees who had staggering levels of knowledge of ever part of the process, but it was all in their heads and never written down or passed on.

 

that's exactly my fear, in a small company the critical knowledge is rarely written down 😞 In my own company, we try to document as much as possible, but it's always difficult unless done as a conscious, continuous effort