Westfield Cars - into administration

Post by **Bootsy** » Thu Jun 09, 2022 5:20 pm

Surprised to hear Westfield have gone into administration https://westfield-sportscars.co.uk

So likewise so have Chesil https://chesil.co.uk

KS · Post by KS » Thu Jun 09, 2022 5:39 pm

Westfield bought Chesil a while back - not good.

911hillclimber · Post by **911hillclimber** » Thu Jun 09, 2022 5:48 pm

Went on a factory tour earlier in this year, looked very healthy then to me.

KS · Post by KS » Thu Jun 09, 2022 6:02 pm

911hillclimber wrote:Went on a factory tour earlier in this year, looked very healthy then to me.

That's because they benefited from huge government grants... Basically you and I have kept them afloat.

KS · Post by KS » Thu Jun 09, 2022 6:59 pm

Over £15 million since 2018...

bjmullan · Post by **bjmullan** » Thu Jun 09, 2022 9:32 pm

Yes, surprising news. Fell in love with this factory car at Porsche in the Glen last month.

Sam · Post by **Sam** » Thu Jun 09, 2022 11:48 pm

I’m actually surprised they lasted as long as they did.

Sad times tho. The first sports car I owned was a crossflow SE, as quick as it was possible to go for £4K ar the time.

Hugo 356 · Post by **Hugo 356** » Fri Jun 10, 2022 8:44 am

Presumably they've been sunk by airports cancelling orders for their autonomous pods

https://westfieldavs.com/

Given the level of investment / IP (term applied loosely in the case of the kit car business!) hopefully they can be rescued as going concerns, maybe separating the kit car / AV businesses

KS · Post by KS » Fri Jun 10, 2022 10:02 am

Hugo 356 · Post by **Hugo 356** » Fri Jun 10, 2022 11:11 am

Looks like they ran out of cash. Not much sign on the balance sheet of the £15m government grants or the IP to build an AV capable of driving round Heathrow without tripping up a jumbo (Westfield Autonomous Vehicles Ltd '21 balance sheet shows no intangible assets)

Ollie · Post by **Ollie** » Fri Jun 10, 2022 11:38 am

Possibly a sad indication of the times ahead.

Machine7 VW Parts supplier also regrettably ceased trading recently leaving paid for but unfulfilled orders. A stark reminder to use a credit card for purchases.

KS · Post by KS » Fri Jun 10, 2022 12:45 pm

This is just Westfield Sportscars - there are nine other associated businesses. I have a list of each with directors who claimed the grants. Some have done nicely…

Post by **Bootsy** » Fri Jun 10, 2022 3:59 pm

I'd imagine there's a quite a few when going into administration suits them just fine. The way Covid grants were given out with barely any due dilliegence is scary. Without going into any detail it was so easy to have 1/2 million deposited into your bank account after a few clicks - many won't bother paying this back

Sam · Post by **Sam** » Fri Jun 10, 2022 5:01 pm

Ollie wrote:Possibly a sad indication of the times ahead.

Machine7 VW Parts supplier also regrettably ceased trading recently leaving paid for but unfulfilled orders. A stark reminder to use a credit card for purchases.

Ah Machine 7. Michael Leche’s creamy yellow bug was such a fine thing. I wonder where it is now.

KS · Post by KS » Fri Jun 10, 2022 8:07 pm

He still has it.

DDK - Die Deutschen Klassiker

Westfield Cars - into administration

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