RE: Lola enters administration

[blade7]

Jasper Gilder said:

Didn't help when they got stitched up on that abortive F1 project a few years ago - understand the sponsor never coughed up

I worked there in the early 90's when a French team stitched them up over a F1 chassis, leading to a few of us being shown the door to save money, there were some good guys there then, and a some right tts as well.

[frap]

I worked there a few years ago and am still in touch with some of the guys, hopefully a buyer can be found soon.

quote:
Hope someone buys them - They've made some of the best looking sportscars over the years.
M.

Believe me more than you know or even read about.

[blade7]

frap said:

I worked there a few years ago and am still in touch with some of the guys, hopefully a buyer can be found soon.

quote:
Hope someone buys them - They've made some of the best looking sportscars over the years.
M.

Believe me more than you know or even read about.

No real secret what they've worked on is there ?, one of the chassis I worked on was a Nissan, and top lurking by the way .

[S2000Etype]

I will give them a pound if everyone else will? How many members does pistonheads have? We could easily save them for the cost of a quid. Imagine being able to say that to your kids in the future. PH can you set something up?

If your all up for it say so on here.

[Choppers]

I really hope they find a buyer. We produced some parts for them in January, have been chasing payment for the last few months with just getting fobbed off with the normal waffel only to read about this on the bbc website - great !!

[Driver Matt]

Tried to give them some work last week ( up to £3m ) and was told by Vernon the sales exec they did not want the work.

[Choppers]

I must admit I don't understand it as when we last spoke to them they'd sold quite a few cars & it was going to be a push as to whether they would get them completed or not

[BogBeast]

S2000Etype said:

I will give them a pound if everyone else will? How many members does pistonheads have? We could easily save them for the cost of a quid. Imagine being able to say that to your kids in the future. PH can you set something up?

If your all up for it say so on here.

I would give much more than a pound.

[CRB1]

As a Chartered Accountant achieving R & D Tax credits/enhanced Corporation Tax relief, for a number of my client's I find it incredible that Lola are partially blaming HMRC for their non payment. Non payment of R & D tax credits on qualifying expenditure that meets HMRC's clearly defined criteria, is not possible. Clearly Lola's R & D spend does not meet the criteria set out. Pure specualtion on my part but, may I suggest that in previous tax years Lola has met the criteria and they have assumed therefore that similar expenditure would meet the criteria each year, thus triggering the refund. This is not the way to proceed with an R & D tax credit claim. Each claim is assessed on its own merits, IRRESPECTIVE, of what was agreed the previous year.

Despite what Lola have said, I cannot believe R & D tax Credits (non payment thereof) are a reason for their downfall, sad though it is.

Blaming HMRC staff in Cardiff serves no purpose at all.

[Rutlandracing]

I was born near Huntingdon, dreamt of working at Lola as a kid. If I win Euro millions on Friday...I would....

[blade7]

Who will lose out ?, suppliers and shopfloor usually, the moneymen know what's coming and have protected themselves I suspect.

[SystemParanoia]

CRB1 said:

Blaming HMRC staff in Cardiff serves no purpose at all.

works for me.. no one likes HMRC.. now everyone has a reason to truly hate them

[Jayzee]

BogBeast said:

S2000Etype said:

I will give them a pound if everyone else will? How many members does pistonheads have? We could easily save them for the cost of a quid. Imagine being able to say that to your kids in the future. PH can you set something up?

If your all up for it say so on here.

I would give much more than a pound.

Great idea - would give more too

[Jayzee]

SystemParanoia said:

CRB1 said:

Blaming HMRC staff in Cardiff serves no purpose at all.

works for me.. no one likes HMRC.. now everyone has a reason to truly hate them

Works for me too

[Ian_C]

I was lucky enough to do three days work experience there in Feb 2000 as a squeaky sixth former shadowing the genius Ben Bowlby and Craig Wiggins. I found it totally fascinating. Would be very sad to lose Lola.

[crispyshark]

Sad news! Hopefully a British buyer steps up! Maybe Lord Sugar could stop wasting time on these talentless plebs on the Apprentice and invest?

[ChevronB19]

I'm so sorry to hear this. We turned up at the factory in the late 90's to buy the moulds for our T200 (they were in the back, with a tree growing through the cockpit) for tiny money, but the guys we met took us on a full factory tour and spent loads of time with us (I seem to remember they had Mansell's crashed Indycar tub there). And they also made the T70, one of my favourite cars ever.

I do hope someone saves them, and that the person who does has a proper appreciation of their history. Eric Broadley was a genius!

[AJLintern]

Very sad hope they find an investor! Lola composites worked with us to built a thermal enclosure for the ATLAS detector on the LHC. Enjoyed visiting and seeing all the motor sports projects they were working on They were producing the bonnets for the McLaren Merc SLR at the time.

[Low Pro]

I have prayed for them, seems the best i can do

[RichB]

CRB1 said:

As a Chartered Accountant <etc.> ... Blaming HMRC staff in Cardiff serves no purpose at all.

Do you think our hearts bleed for the HMRC? No... Stuff the HMRC - British automotive passion is behind what's made Lola the respected outfit they have become over the last half decade. Frankly HMRC can get buggered.