Lola Composites Limited (01818423): administration
- Status
- Administration ended
- Administration began
- 2012-05-21
- Administrators
- Mark Newman, Vincent John Green
- Administrators' firm
- BDO
- Formerly
- Composite Tooling & Structures Limited; Lola Composites Limited
- Incorporated
- 1984-05-22
- Location
- Tunbridge Wells
- Industry
- 2524
Why it went into administration
- Loss of a key customer, supplier or contract
- Weather / natural events
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 22 May 1984, operating from premises in Huntingdon in Cambridgeshire The Company was originally formed to manufacture composite structures for racing cars, which had formerly been made from metal and glass fibre, as a result of a market for such products identified by a sister company, Lola Cars Over the following years, carbon fibre components were developed which were lightweight and strong, and the Company diversified its product range and branched into composite design and technology work in the defence, aerospace and renewable sector industnes
In June 1998 the Company's name was changed to Composite Tooling & Structures Limited, and was changed back to Lola Composites Limited in May 2005 The current shareholder, Lola Group Holdings Limited, purchased the businesses of Lola Composites and Lola Cars out of administration tn 1998
Whilst Loia Cars International Limited was and remains a major customer, during Its 28 year history, the Company has evolved to become a manufacturer and supplier of composite structures and components for numerous defence programmes and aerospace tooling and parts production
Administrators' statement of proposals (2012-07-17) · Companies House register