RE: New TVR Griffith - official
Discussion
Monkeylegend said:
Who knows how many deposits are being held, but if they announce the project is dead and there are say 50 deposit holders all asking for their money back at the same time I would imagine TVR would struggle to find the readies to reimburse them, so best to keep them hanging on.
Id not take any deposit back or you will lose your place in the queuebennno said:
Monkeylegend said:
Who knows how many deposits are being held, but if they announce the project is dead and there are say 50 deposit holders all asking for their money back at the same time I would imagine TVR would struggle to find the readies to reimburse them, so best to keep them hanging on.
Id not take any deposit back or you will lose your place in the queueWe all know us Brits love to be in a queue.
Monkeylegend said:
bennno said:
Monkeylegend said:
Who knows how many deposits are being held, but if they announce the project is dead and there are say 50 deposit holders all asking for their money back at the same time I would imagine TVR would struggle to find the readies to reimburse them, so best to keep them hanging on.
Id not take any deposit back or you will lose your place in the queueWe all know us Brits love to be in a queue.
skwdenyer said:
QBee said:
Unfortunately TVR failed to raise sufficient finance while they waited for the factory unit in the valleys to be made ready, then COVID happened, the Ukraine war happened, much of the enthusiasm for such investments vanished and EVs became the only sane car production investment, and even EVs are taking a bit of a pause right now while the economy is staring down the toilet bowl and the Bank of England is squeezing our pips.
To suggest that there was an element of "while they waited for the factory... to be made ready" is revisionism of the highest order, I'm afraid.Miserablegit said:
TVR are embarking on a fresh strategy of zero emission vehicle production unseen for many years.
By adopting and implementing a strategy based on vapourware, unobtainium and f
kwittery they have established themselves as the clear class leader in the sector.
They have not been spaffing Covid funding up the wall. Definitely not- or as this is PH Defiantly not.
TVR look forward to bringing more exciting news to the sector once they close the deal with some guy who is selling magic beans.
By adopting and implementing a strategy based on vapourware, unobtainium and f
kwittery they have established themselves as the clear class leader in the sector.They have not been spaffing Covid funding up the wall. Definitely not- or as this is PH Defiantly not.
TVR look forward to bringing more exciting news to the sector once they close the deal with some guy who is selling magic beans.
Monkeylegend said:
I suspect the issue is that LE knows the project is doomed but if he comes out and says so there will be a demand for all the remaining deposit monies to be repaid, assuming TVR are still holding deposits, and the money is not there to pay for them being recalled all at once.
Maybe that’s why he’s selling his Sag? 
bennno said:
Monkeylegend said:
Who knows how many deposits are being held, but if they announce the project is dead and there are say 50 deposit holders all asking for their money back at the same time I would imagine TVR would struggle to find the readies to reimburse them, so best to keep them hanging on.
Id not take any deposit back or you will lose your place in the queue
Wacky Racer said:
That would leave two left then.
Looking at the last filed accounts:
Deferred income has reduced from £1.9m to zero which suggests they’ve either delivered all the cars
Or all deposits have been returned.
On the basis TVR Manufacturing changed its name to TVR Milk Floats in May 2022 its seems rather unlikely there will ever be a Griffith to behold.
Also interesting how they record £9m of intangible assets based on the investment/development costs of the one Griffith- very much in the way I accounted for 20 years of converting cash into beer and then into urine…
I note that the charges in favour of the Welsh Ministers on both companies were satisfied in April 2022. How?
There have been some big movements. TVREV owed £9m to TVRA, now only owes £5m. But no cash anywhere on the books. A further £975k bond raised in October 2022, so still some signs of life. LE's farm still on the hook.
I wonder if the plan now is to keep up the hope show until enough unsecured bondholders come on board to allow the paying-down of the Fiduciam debts?
There have been some big movements. TVREV owed £9m to TVRA, now only owes £5m. But no cash anywhere on the books. A further £975k bond raised in October 2022, so still some signs of life. LE's farm still on the hook.
I wonder if the plan now is to keep up the hope show until enough unsecured bondholders come on board to allow the paying-down of the Fiduciam debts?
Wacky Racer said:
bennno said:
Monkeylegend said:
Who knows how many deposits are being held, but if they announce the project is dead and there are say 50 deposit holders all asking for their money back at the same time I would imagine TVR would struggle to find the readies to reimburse them, so best to keep them hanging on.
Id not take any deposit back or you will lose your place in the queue
That one car is probably the only thing of value in the company, so LE will acquire it for a pittance, call time on the mess that is TVR, liquidate the company owing millions, then sell the prototype for a few million in a couple of years time when the heat has died down a bit, all financed by the deposit holders 
Maybe.
Maybe.
Monkeylegend said:
That one car is probably the only thing of value in the company, so LE will acquire it for a pittance, call time on the mess that is TVR, liquidate the company owing millions, then sell the prototype for a few million in a couple of years time when the heat has died down a bit, all financed by the deposit holders
Maybe.
LE’s farm is security for the loans. Liquidating is the last thing he’ll want right now.Maybe.
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