TVR's name goes up for sale
Trademark sale raises hope for TVR's future
 TVR Tuscan convertible: back in production soon? |
The TVR trademark is up for sale.
Contrary to what most people -- including PistonHeads -- believed, it now appears that the TVR trademark is owned by Blackpool Automotive, the production company that TVR owner Nikolai Smolenski spun off, and which used to be called TVR Engineering.
PistonHeads' investigations with the UK's Patents Office have revealed that Blackpool Automotive, currently in administration, owns the TVR trademark -- and that the company's up for sale (see link below).
Blackpool Automotive's listed assets include:
- TVR trade marks for the UK, EU & US
- Moulds & tooling - TVR Tuscan, Tamora, Sagaris & T350
- Leasehold premises 14,000 sq m
- Manufacturing plant, equipment, fixtures and fittings
- Work in progress and vehicle stock
- Draft turnover 12 months 31 December 2005 - £18.87m
Smolenski spun off TVR Engineering (as it was then called) from the holding company with the aim of moving production elsewhere, originally to another site in Blackpool and then -- when talks with the local council fell through -- abroad, with Bertone's factory in Italy strongly tipped.
It was thought that Smolenski had retained the trademark in the holding company but this now appears to be incorrect.
As to who's buying Blackpool Automotive, no-one's gone public but there is speculation that Al Melling, one of three engineers credited with the design of the TVR AJP engine (he's the A, as in Al, of that acronym) is interested. If true, then Melling is one of some 15-20 investors who have expressed an interest in buying the company, according to a story in the Independent newspaper. Melling is also progenitor of the already infamous four-turbo, 1,200bhp 6-litre V10-powered Hellcat.
TVR's directors, in the form of managing director David Oxley and Smolenski, aren't saying anything.
However the upshot is that Blackpool Automotive, rather than just owning TVR's physical assets, which have been described as being in less than perfect condition, also owns the name. This makes the company far more valuable, and means that a buyer will be able to restart TVR production with the right badge on the cars' bonnets. As long as their pockets are deep enough, that is.
While speculation about the future can be illuminating, it shouldn't be forgotten that hundreds of livelihoods were in TVR's hands. This news sheds just a glimmer of hope that those livelihoods -- and all that hard-earned expertise and know-how -- may at some point be rescued.
Let's hope so.
Links
This gets more confusing with every snippet of news. So as Blackpool Automotive is, in effect, all the stuff to restart TVR production and call them TVRs, what exactly is it that NS has ended up with?
Other than the record for pissing £15M down the drain in the least amount of time...
hard one that....
Of course not....
ROFLMAO
Here's hoping someone can now save not just the production line, but the jobs too for all those working for TVR. I'm used to our brands being bought up by overseas investment, but who ever saves it, they must keep production here in the UK.
Maybe if the UK Government had not wasted over £4billion (and still counting) on an illegal war overseas, they could have helped out these people in Blackpool saving 100's of jobs rather than killing 100's of our solders!
Even if he has dropped a b@ll@ck with the regard to the models as well as the badge (I wouldn't be surprised if he has) getting those moulds/tooling back will be impossible won't it?
It's very good news that TVR have seen the back of NS and that they might continue with a new owner, and hopefully in Britain. Take a bow all those who attended and organised London Thunder, that event could genuinely have made all the difference as it would be hard for the new owner to ignore.
But it's a bit sobering that up until something rises from the ashes, there is currently no TVR. The main concerns for current owners being no parts being made and no warranty being honoured.
Maybe if the UK Government had not wasted over £4billion (and still counting) on an illegal war overseas, they could have helped out these people in Blackpool saving 100's of jobs rather than killing 100's of our solders!
UB said
Or even spent some of that money on soldiers equipment.
Maybe if the UK Government had not wasted over £4billion (and still counting) on an illegal war overseas, they could have helped out these people in Blackpool saving 100's of jobs rather than killing 100's of our solders!
Controversial, but very true!
Bear in mind that successive Governments waste money in many different ways. Going back to the 1970's, Jensen were in financial difficulties, but rather than bale them out of the sh1t, the Government of the day chose to invest many millions of pounds on the Delorean project in Belfast. We all know what happened to that!
Maybe if the UK Government had not wasted over £4billion (and still counting) on an illegal war overseas, they could have helped out these people in Blackpool saving 100's of jobs rather than killing 100's of our solders!
Controversial, but very true!
Bear in mind that successive Governments waste money in many different ways. Going back to the 1970's, Jensen were in financial difficulties, but rather than bale them out of the sh1t, the Government of the day chose to invest many millions of pounds on the Delorean project in Belfast. We all know what happened to that!
sorry, i did not say that.
what i said was better to spend the money on soldiers kit.
paid £15m for TVR when he bought it in 2004 and is since thought to have invested another £30m.
Didn't he start out worth £45M, in which case ......
Trouble is as I see it if the company lost £45M in 2y then who would want to take this on
Just because NS lost it, doesn't mean it couldn't do well in the right hands. After all the current range is very exciting, quality & build were improving, new warranties would have helped confidence in the marque.... And what else does what a TVR does for the money?
It goes to show that boys shouldn't play men's games
Jensen hit hard times in 1974 with the oil crisis when the market dried up. De Lorean were around early 80's with a boom market, finally going tits up in 1982 due to bad management and a crap product. Some time difference, not to mention a change of government.
Anyway, is it any government's responsibility to bail a company out because of bad management? I wonder if they'd give my company a hand out to keep going if I decided I prefered watching reruns of Deal or No deal all day?
I hope TVR keeps going, and this month's Evo article suggests the last of the line Sagaris' were well made. One for all those who are likely to miss out on the Aston purchase perhaps?
Regardless of what we might want to think of him, I doubt if he set out to lose money.
Whoever takes it on now will have to completely restructure the business - so don't be surprised if what emerges bears little resemblance to the TVR we know and love...
Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff