Overfinch In Administration
Luxury performance Range Rover specialist calls in the receivers
Range Rover tuner Overfinch has gone bust.
Overfinch Bespoke Vehicles Limited, which has been building go-faster Rangies since 1975, has been placed into administration due to cash flow problems.
According to administrators Wilson Field, "significant one-off non-trading costs," have hit the company in tha past 18 months, which have "severely affected cash flow."
But Overfinch, which makes the super-luxurious Holland & Holland version of the Range Rover as well as providing a range of performance and other tweaks of less dubious taste, isn't dead just yet.
It's continuing to trade while the receivers look for a new owner for it - and the administrators seem confident they can find one.
"Given Overfinch's position as a world leader in its field and with its valuable intellectual property rights, we are confident that the business will be sold within the next few weeks, securing the future of its 20 staff." Roger Hutton, legal adviser to the administrators, told business-sale.com.
Overfinch, which is based in Farnham, Surrey, currently distributes its products to 15 countries, including markets in North America, Africa and Asia.
Conspicuous tastelessness was 'so noughties'. I'm not surprised they're finished.
Directors' bonus? Pension contributions? Redundancy payments?
Most other costs e.g. interest on borrowings, corporation tax, materials etc would hardly be "one-off" or "non-trading".
To be brutally honest though, even 'back in the day' they weren't the nicest company to deal with.
Directors' bonus? Pension contributions? Redundancy payments?
Most other costs e.g. interest on borrowings, corporation tax, materials etc would hardly be "one-off" or "non-trading".
Something is nagging me that the guy who owns Overfinch also owns Bristol (Toby Silverton). I hope this issue is specific to a trading situation at Overfinch and not that Mr Silverton has found himself on his uppers as this could have other implications if so.
On the plus side i did get to have a look around the old range that Clarkson had in his video with the Vette engine.
Shame as the engine conversion stuff they used to do was awesome!
But I guess since the advent of high end sports SUVs their original market became less relevant.
Can't say I'm a fan of their footballers wives conversions though I am rather partial to the Holland and Holland model.
I'll be amazed if they aren't bought/recovered as if they dropped the bling and returned to tasteful updates I'm sure they could continue to be desirable.
Along with this they were killed of by the s/c and TDV8 Range Rovers. What more do you need in terms of performance.
Shame to see a British brand go under, but it hasn't been what it was for a long time.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff