A brief report on TopGear.com reveals that the British sports car builder TVR has been "placed in adminitstration," which we believe is Brit for something akin to Chapter 11. The report states that administrators PKF (UK) intends to sell the automaker to keep it alive. TVR was purchased by Russian millionaire Nikolai Smolensky back in 2004, and though the Russian did much in the way of reviving TVR with new models and a new sense of hope, it appears that recent efforts to relocate production, reduce costs and unveil a new supercar are too-little-too-late moves for the company.
Thanks for the tip, Zane!
[Source: TopGear.com]
Related posts:TVR doing well, rehires laid-off workers
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Thanks for the tip, Zane!
[Source: TopGear.com]
Related posts:TVR doing well, rehires laid-off workers
TVR plans to double production with entirely new lineup
TVR calls it quits in UK
Pissed off TVR owners converge on factory
