British sports car brand Bristol Cars has been placed into administration, it has been announced.
Tom MacLennan and Trevor Binyon from RSM Tenon have been appointed administrators for the firm, which was formed from the aircraft industry in 1946 and has maintained a constant, eclectic presence through a single showroom on Kensington High Street in west London.
Mr MacLennan told BBC Bristol, "While there have been a number of immediate redundancies due to the financial position of the company, we are maintaining the sales and service operations so customers will continue to be supported."
Already, 22 of the 27-strong Bristol employees have been made redundant, including the entirety of staff that work at the firm's manufacturing plant in Bristol.
Chas Hallett blog: does Bristol deserve to survive?
"We would urge any interested parties to make contact with us as quickly as possible and are confident that we can secure the future of this iconic British brand," MacLennan added.
Steven Wiltshire, who has been with the firm for 14 years told the BBC: "Everybody has been treated very, very badly and we're all shocked and saddened at what has happened to Bristol Cars."
Bristol's current model line-up comprises the Fighter, Blenheim, Blenheim Speedster and Series 6. Its flagship is the Fighter T, which features a twin-turbocharged, Dodge-derived V10 motor producing a claimed 1012bhp and 1036lb ft.
The firm has rarely issued any production figures, though, and has consistently declined to offer any vehicles to the media for evaluation.
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A Non Apology from Bristol Cars Chairman Kamil Siddiqi
Posted on the official Bristol Cars website 23 Aug 2020;
A message from the Chairman.
"Our blind self-interest, total lack of management skills, fiscal incompetence (not to mention stupidity and nepotism) caused this once proud British marque to once again fall into receivership. If we had any honour, we would apologise to the individuals and suppliers who have been left out of pocket. But we don't and won't. We don't even pay our own staff. Let's face it, it's not the first time - you should have done your research. A quick Google search would have shown our history of non-payment, defaults and cynical ordering of services and supplies while there's no cash in the kitty. Meanwhile, we're busy on our next phase of fleecing investors, suppliers and staff while I add to my impressive stable of Ferraris, Porsches, Mercedes' and Rolls Royces at my large private estate. Yours insincerely, Kamal Siddiqi"