W Series Limited (10692502): administration
- Status
- Administration ended
- Administration began
- 2023-06-14
- Administrators' firm
- Evelyn Partners
- Formerly
- SHE Championship Limited
- Incorporated
- 2017-03-27
- Location
- London
- Industry
- 59133 Television programme distribution activities
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 27 March 2017 and launched as an all-female motorsport series, the W Series, created to provide a platform for female drivers to help them progress to the highest levels of the sport. The series was initially funded by several shareholders, which included the two Directors, and the series gained fan support from the outset.
The championship toured the world alongside other motorsport racing series whilst having a leased UK base in Dunsfold, Surrey. The business was run by a core team of employees along with the two Directors who took a direct approach to support and enhance the growth of the series.
Due to the nature of the business, significant sums of capital outlay were required to help with the launch of the brand and to support the ongoing growth of the series. The Directors were aware that the initial years would be loss making and as such, net losses of (£635,541) and (£5,106,991) were posted for the years ending 2019 and 2020.
Administrators' statement of proposals (2023-08-12) · Companies House register