Photo: Westfield Sports Car company
Westfield Sports Cars, the British marque known for its roadsters, but not limited to them, has entered administration. The vehicle manufacturing department of Westfield is not the only one to enter said administration, as the same has happened to Westfield Autonomous Vehicles, as well as Chesil, another brand that the company owns.
Initially, Westfield built Lotus Eleven replica kits and then focused on Seven replicas. Since 1983, when it was founded, Westfield had built approximately 13,000 vehicles. The same firm is responsible for the Heathrow Pods, which have been in operation at the airport's Terminal 5, where they autonomously connect the parking to its main building as a technology demo.
Westfield Sports Cars bought the Chesil company, which specialized in 356 Speedster replicas, back in 2019. The autonomous pods that were described above were made by a separate division, called Westfield Autonomous Vehicles. All three have administration notices on their websites.
Curiously, the Westfield Technology Group, which owns all three brands mentioned above, and is owned, in turn, by Potenza Enterprises Limited, is not included in the administration. In other words, it means that just some divisions of Westfield are not doing so well, and they have reached a point where they can no longer pay their debt.
While in administration, the law firm or the designated administrator will decide what will be the best way for the company to pay its creditors. In some cases, assets are liquidated, while others involve selling the company to a third party to clear its debt.
As the Brits at Autocar have noted, the company's records show it had stock that was worth GBP 2.2 million at the end of 2021, but it owed around GPB 1.76 million at the time, while only having GBP 25,722 in cash. Even if you are not a business expert, you can see that the company was not doing great from a cash flow standpoint.
While the exterior of some Westfield models may resemble that of a Caterham, their underpinnings are not identical. In fact, due to legal action started by the latter marque, Westfield cars have a different construction of their chassis, as well as different sizes for it. There are also kits with an independent rear suspension, as well as models with electric drive, not just the option between forced induction and naturally aspirated engines.
Recently, the company had ditched its V8-engined models in favor of sticking to turbocharged units from Ford, which complemented naturally aspirated engines from motorcycles.
The niche manufacturer will have its affairs handled by MB Insolvency. The fate of the company is yet final, but things are not looking positive for the brand. Hopefully, an investor will come and
Westfield Sports Cars bought the Chesil company, which specialized in 356 Speedster replicas, back in 2019. The autonomous pods that were described above were made by a separate division, called Westfield Autonomous Vehicles. All three have administration notices on their websites.
Curiously, the Westfield Technology Group, which owns all three brands mentioned above, and is owned, in turn, by Potenza Enterprises Limited, is not included in the administration. In other words, it means that just some divisions of Westfield are not doing so well, and they have reached a point where they can no longer pay their debt.
While in administration, the law firm or the designated administrator will decide what will be the best way for the company to pay its creditors. In some cases, assets are liquidated, while others involve selling the company to a third party to clear its debt.
As the Brits at Autocar have noted, the company's records show it had stock that was worth GBP 2.2 million at the end of 2021, but it owed around GPB 1.76 million at the time, while only having GBP 25,722 in cash. Even if you are not a business expert, you can see that the company was not doing great from a cash flow standpoint.
While the exterior of some Westfield models may resemble that of a Caterham, their underpinnings are not identical. In fact, due to legal action started by the latter marque, Westfield cars have a different construction of their chassis, as well as different sizes for it. There are also kits with an independent rear suspension, as well as models with electric drive, not just the option between forced induction and naturally aspirated engines.
Recently, the company had ditched its V8-engined models in favor of sticking to turbocharged units from Ford, which complemented naturally aspirated engines from motorcycles.
The niche manufacturer will have its affairs handled by MB Insolvency. The fate of the company is yet final, but things are not looking positive for the brand. Hopefully, an investor will come and
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