Le Mans » Lola goes into administration


Lola: 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.

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SHAKEN - Unregistered

May 16, 2012 6:20 PM

Very sad day for motor sport and an all grim reminder of the sign of the times (word recession does not cut it). I hope they find a passionate buyer as there are people who have the money.....as for HMRC, that they could not give tax credits- well they have just put a business and its people to the wall and on to the dole

hemingways - Unregistered

May 17, 2012 1:04 PM

Sad to see them in this situation but I can't see them surviving as a race car manufacturer. The composites arm may have a value but thats about it. They have had a wealthy and passionate owner since the last bankrupcy and he hasn't made it work so it dosn't look like a good investment for anyone else.

richard

May 17, 2012 2:40 PM

heming. lola survived several times before. birrane rescued it when it was in prolems after broadley. and then, when matercard pulled out of the f1 project, they were in trouble and survived. what is worrying now, is that caterham/fernandes are being touted as a possible buyer. however, the company is not in liquidation, but in administration, which basically means that they are re assessing their finances.

hemingways - Unregistered

May 18, 2012 9:36 AM

Richard
Correct that they are in admistration but that dosn't mean its a good investment, clearly MB has had enough of funding it and has decided to cut his loses. There may well be some parts of the group that are viable but surviving as race car manufacturer is hard in the best times let alone in the current financial climate. I really hope they survive and don't go the way of March, Reynard, Ralt, Chevron and the others.

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