Lola Cars International Limited (03415853): administration
- Status
- Administration ended
- Administration began
- 2012-05-21
- Administrators' firm
- BDO
- Formerly
- Tradehope Limited
- Incorporated
- 1997-08-06
- Location
- Tunbridge Wells
- Industry
- 3420
Why it went into administration
- Sustained trading losses
- Weather / natural events
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
In 1958, a company called Lola Cars was created to market a sports racing car designed by the Broadley cousins, following their innovation of a stde-vaive engine Ford racing car in 1955 The company moved from London to Huntingdon in Cambridgeshire in the mid 1980's, and Lola Composites Limited was formed to manufacture composite structures for racing cars, which had previously been made from metal and glass fibre Carbon fibre components were developed which were lightweight and strong, and over the years, the companies diversified into composite design and technology work in the defence, aerospace and renewable sectors
Lola Cars International Limited was incorporated in 1997, and was the corporate vehicle that purchased the Lola Cars business out of administration
Having been involved in motor racing at all tevels over its long history, including Formula One, more recently the Company has focussed on becoming a key player in the Le Mans series, selling prototype cars, parts and spares
Administrators' statement of proposals (2012-07-13) · Companies House register