TVR has been sold

[Street Ryder]

I heard about this a few days ago that TVR had sold their company as they had alot of finacial problems. Some guy jumped on board and bought the company, but all he wanted was the name TVR and as a result of this no more TVR cars will be made.

To my knoledge it was some russian or german millionaire.

 

I cant believe that no more will be made

[Baldy]

Now this is a subject i know a lot about. I live just down the road form their old factory so this is a good subject of mine. Basically a couple of years ago tvr was to a russin billionaire Smolenski or something similar.In february 2006 they announced they were looking to buy land for a new factory there were worries thsat this would not be in the uk but after many negotiations with blackpool borough council they reveals in april 06 that they would be staying in the town and would be having a new factory built near the airport. They said they would stay at there old historic site on bristol avenue until then, sadly it only remained open until late october 2006 after many weeks of uncertainty. In october the 250 strong workforce were all told they were going to be made redundant in december and that they WOULD be paid redundancy pay. In december (the 23rd i think) they were all informed by letter that tvr had gone into liquidation and no buyer had been found so there wuld be no redundancy pay after all. Smolenski has kept the tvr name and there maybe new tvr cars in the future but they will be buit in italy. A new company was formed by management and they have the right to make parts for all previous ranges of tvr but they are based in southern england so the 250 strong workforce remain unemployed. Last week the local council held a open day to advise former employees how to get a new job and leanr new skills as most staff had only had this job and were left without any skills to do anything else. Sorry for such a long post but i thought i would explain it all.

[Street Ryder]

thats alrite, at least we now know the full story. I would have never expected that they had financial trouble though

[Nipper]

small manufacturers os sports cars usually go into financial trouble at some point

 

i mean ford for example, not exactly a small company, they are in financial problems

 

now if Ford can have financial difficulties imagine how hard it is for companies just setting up

[Street Ryder]

if ford had problems then small startup companys will have the same, you need to jump in when the market is good

[Allmighteh]

TVR continues to rumble, but we wish it was the sound of its big, fast engines rather than continuing business deals.

 

Hope is on the horizon for the company, though, after a new bid arose from a British firm wanting to take on the Blackpool-based manufacturer.

 

Melling Sports Cars is headed up by Al Melling, who is designing his own 1,200bhp supercar, and has rock musician Rick Wakeman as a company director.

 

Now, these sound like the sort of people who should be running a sports car company to us.

 

We won't know if Melling has been successful until the administrators dealing with TVR announce the outcome of the bidding process on February 23.

 

However, Al Melling has said he intends to keep the TVR Griffith and Sagaris in production, and use the workforce to produce some of his own designs.

 

Melling has previous links with TVR - he was instrumental in designing the firm's own engines.

 

It would take until summer before production could restart, according to Melling, but he believes TVR is still a viable company.

 

Copied from a reliable source :P

[Pherelas]

Don't know if this has been said but the Russian guy bought TVR back. I think this is becouse it is illigal to sell a company that is about to go bust and he did.