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Westfield Cars - into administration
Posted: Thu Jun 09, 2022 5:20 pm
by Bootsy
Surprised to hear Westfield have gone into administration
https://westfield-sportscars.co.uk
So likewise so have Chesil
https://chesil.co.uk
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 5:39 pm
by KS
Westfield bought Chesil a while back - not good.
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 5:48 pm
by 911hillclimber
Went on a factory tour earlier in this year, looked very healthy then to me.
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 6:02 pm
by KS
911hillclimber wrote:Went on a factory tour earlier in this year, looked very healthy then to me.
That's because they benefited from huge government grants... Basically you and I have kept them afloat.
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 6:59 pm
by KS
Over £15 million since 2018...
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 9:32 pm
by bjmullan
Yes, surprising news. Fell in love with this factory car at Porsche in the Glen last month.
Re: Westfield Cars - into administration
Posted: Thu Jun 09, 2022 11:48 pm
by Sam
I’m actually surprised they lasted as long as they did.
Sad times tho. The first sports car I owned was a crossflow SE, as quick as it was possible to go for £4K ar the time.
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 8:44 am
by Hugo 356
Presumably they've been sunk by airports cancelling orders for their autonomous pods
https://westfieldavs.com/
Given the level of investment / IP (term applied loosely in the case of the kit car business!) hopefully they can be rescued as going concerns, maybe separating the kit car / AV businesses
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 10:02 am
by KS
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 11:11 am
by Hugo 356
Looks like they ran out of cash. Not much sign on the balance sheet of the £15m government grants or the IP to build an AV capable of driving round Heathrow without tripping up a jumbo (Westfield Autonomous Vehicles Ltd '21 balance sheet shows no intangible assets)
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 11:38 am
by Ollie
Possibly a sad indication of the times ahead.
Machine7 VW Parts supplier also regrettably ceased trading recently leaving paid for but unfulfilled orders. A stark reminder to use a credit card for purchases.
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 12:45 pm
by KS
This is just Westfield Sportscars - there are nine other associated businesses. I have a list of each with directors who claimed the grants. Some have done nicely…
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 3:59 pm
by Bootsy
I'd imagine there's a quite a few when going into administration suits them just fine. The way Covid grants were given out with barely any due dilliegence is scary. Without going into any detail it was so easy to have 1/2 million deposited into your bank account after a few clicks - many won't bother paying this back
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 5:01 pm
by Sam
Ollie wrote:Possibly a sad indication of the times ahead.
Machine7 VW Parts supplier also regrettably ceased trading recently leaving paid for but unfulfilled orders. A stark reminder to use a credit card for purchases.
Ah Machine 7. Michael Leche’s creamy yellow bug was such a fine thing. I wonder where it is now.
Re: Westfield Cars - into administration
Posted: Fri Jun 10, 2022 8:07 pm
by KS
He still has it.
