Taken from another forum I'm on.
Lola call in the administrators
« on: Today at 06:00:54 PM »
Quote
Lola is a British company and have been building race cars continuously since 1958. However on Wednesday, they announced that its 54-year run was coming to an end:
The latest economic downturn and the decision of HMRC not to pay ongoing R&D tax credits has caused a serious cash-flow problem for the businesses. It is with enormous regret that a decision has been taken to issue Notices of intention to appoint an Administrator to Lola Cars International Limited and Lola Composites Limited. This step allows the board to continue its discussions with possible investors and prospective purchasers with a view to securing the best outcome for the staff, creditors and customers of both businesses.
Yet another piece of British manufacturing calling in the administrator.
http://lolacars.com/heritage.asp
