Re : TVR appoints new CEO; laments factory issues

[unsprung]

Company accounts posted 30 March 2020:

. . . "The COVID-19 pandemic presents no immediate or foreseen risk to TVR operationally or as a going concern, given the operations are still in the pre-production stage."

. . . "The Company is showing a net liability position per the balance sheet, suggesting it cannot meet its debts as they fall due."

. . . "Included in this balance are amounts owing to the parent entity, TVR Automotive Limited, of £8.2m."

. . . "...there is a requirement for additional funding during the 2020 financial year, which will be supported via the issue of a securitisation bond. It is believed due to the current stage of negotiations and significant interest in the business, the necessary funding will be secured to ensure the company, and in turn the group, continues as a going concern."

View and download the documents here:

TVR Automotive Limited
https://beta.companieshouse.gov.uk/company/0848631...

TVR Manufacturing Limited
https://beta.companieshouse.gov.uk/company/0848657...

[anonymous-user]

unsprung said:

. . . "The COVID-19 pandemic presents no immediate or foreseen risk to TVR operationally or as a going concern, given the operations are still in the pre-production stage."

They couldn't "foresee" their way out of a paper bag.

[rallycross]

Lot of debt there sad to see this but not surprising.

We had an early Taimar turbo in gold - used to be impossible to start once warm.

[anonymous-user]

vaud said:

Linky no worky

Apologies. Unsprung to the rescue...

[Digga]

vaud said:

Linky no worky

-1 here too.

Management summary pleas fblm, what's the balance sheet gone to?

[Monkeylegend]

Digga said:

-1 here too.

Management summary pleas fblm, what's the balance sheet gone to?

Pot

[anonymous-user]

fblm said:

vaud said:

Linky no worky

Apologies. Unsprung to the rescue...

I'm I the only one who sees the irony (is it irony?) That the link to the TVR accounts doesn't work...