No need to buy one just yet
Administrators for the Segrave Club are locked into negotiations with a secret potential backer who could put the company on a strong financial footing for the future.
According to PH sources, all the exotic car share clubs are suffering from a dearth of new subscribers as shell-shocked City players keep their heads down following the credit crunch. While established players are likely to be surviving on renewed subscriptions from long-term members, newcomers like the Segrave Club are totally reliant on meeting monthly membership targets to fund operations.
Despite this, PH has learned that Segrave Club administrators believe there is a real chance the company can be rescued by a backer with a long term interest in developing the business – more news is expected in the next few days.
Meanwhile, Segrave members have all been contacted personally by Club execs and our source says most have been extremely supportive. Indeed few members risk losing out significantly, having used up most of their 2008 ‘car days’ over the summer months
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