TVR SOLD!
Another bizarre chapter in the history of TVR
TVR
The sale included the TVR trademarks, certain vehicle stock, work-in-progress, and the manufacturing plant and equipment.
In a statement, joint administrators Philip Long, Kerry Bailey and Matthew Gibson said:
"Having advertised the assets of the company to the open market, we are confident we have achieved the best possible price in the circumstances and we are now looking to return money to the creditors as quickly as possible.
"While we had a significant number of companies expressing an interest, four demonstrated they had the funds required to enter a bidding process. Ultimately, Mr Smolensky's company came in with the highest offer."
It's not been a pretty process so far and fans of the company are likely to take little comfort from this news. TVR although in trouble when sold by former owner Peter Wheeler has struggled from one challenge to another over the last couple of years resulting in its demise before Christmas. Few will have faith in Smolensky's ability to turn it around now and more cynical observers will question why the company has been allowed to go into administration only to be bought by its former owner.
It wasn't torn apart, the businness model collapsed years ago when in the hands of PW.
As for France, probably not but then that is part of the reason why France is a ghetto filled, third world country and almost a non entity on the international stage.
But then I'm sure they are not completely over the moon at us Brits owning huge swathes of their land.
Why is everyone being so melodramatic. Show a bit of backbone for Christ's sake and stop being so whingy and girly. Everyone needs to get a grip.
It wasn't torn apart, the businness model collapsed years ago when in the hands of PW.
As for France, probably not but then that is part of the reason why France is a ghetto filled, third world country and almost a non entity on the international stage.
But then I'm sure they are not completely over the moon at us Brits owning huge swathes of their land.
Why is everyone being so melodramatic. Show a bit of backbone for Christ's sake and stop being so whingy and girly. Everyone needs to get a grip.
A few small technical details...France's economy is currently bigger than ours,they have a French owned motor industry,their productivity is better than ours despite having a 37 hour week,they have better healthcare,better roads and are largely independent of oil imports.
You are right-they are complete pants!
I'm sort of inclined to agree with your comment to be honest. This whole tirade is become ever more boring and predictable. A buy back by Smolenski was always going to be on the cards, it's happened beofre with other companies and it will cetainly happen again.
I can't see how anything good will come of this, surely no-one with any knowledge of what has been going on with the company over the past few years will ever buy a 'new' TVR. Although I doubt a new TVR will ever actually appear.
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