Westfield Sports Cars, a low-volume sports car manufacturer, has been placed under administration and is in danger of ceasing production for 40 years. In addition to the insolvent car company, Westfield’s autonomous transportation department will also be liquidated.
The company employs 50 people in its premises in Kingswinford, Dudley, UK. Westfield has been operating since 1983, producing about 13,000 cars. Like its competitors Caterham, Lotus Seven is a firm that specializes in replica kits. The company was founded by Chris Smith, a former GP competitor and engineer. Previous internationally acclaimed products were the SEiGHT, which runs on the V8, as well as several models that run on high-powered motorcycle engines.
Westfield only expanded in 2019 to acquire Corsil, the maker of the Porsche 356, which is also on the administrative list.
At the time, Westfield Autonomous Vehicles was behind autonomous poles between the business parking lot at London’s Heathrow Airport and Terminal 5’s main building. The autonomous vehicle was expected to be a “Boeing or Airbus in the automotive world.”
Also: Caterham broke sales records last year
A reporting from Car The company noted that by 2022, cash flows were tight when it had less than £ 26,000 (~ $ 31,600). The company’s records are blurred because they say Westfield Sports Cars had a 2.2 million pound (~ $ 2.68 million) stake, owed 1.76 million pounds (~ $ 2.14 million) and owed Westfield Technology Group 1, Indicates that the loan is 2 million pounds (~ $). $ 1.4 million).
Interestingly, Westfield Technology Group and its subsequent parent company, Potenza Enterprises Limited, are not on the administration’s list.
Mark Bowen of MB Insolvency was appointed Enterprise Administrator on June 9. BBC, Bowen provides information on current positions to lenders, including those who have ordered cars and parts. The firm also said it had an “encouraging” level of interest from stakeholders in Westfield’s business and other assets.
