Sad news - Marcos go in Administration
Discussion
Sad news, just received this from the Marcos factory (Marcos Engineering);
Marcos Engineering Appoints Administrator
Company proceeds to wind down operations
October 9th, 2007 - Kenilworth, UK. Marcos Engineering Limited ( "Marcos, the
Company" ) today announced that it has entered Administration with a view to
completion of existing work in progress. Marcos' plan of dissolution will see the
Company wind up its ongoing business activities, sell its assets and distribute
proceeds and beneficial interests to shareholders and creditors as soon as practicable.
In reaching this decision the Company considered a number of factors including the
Company's current and future strategic and market opportunities and business
prospects, limits on new capital from outside sources, increasing cost of ongoing
capital and prevailing economic conditions.
Marcos was founded in 1959 and went into receivership in 2000. The Company was
restarted in 2002, conducting business as an independent supplier of a new high
performance family of hand built lightweight sports cars that provide a uniquely
exhilarating driving experience. Despite mounting competition from companies with
substantially greater financial, technical, distribution and marketing resources Marcos continued to develop its sports cars that received international acclaim.
As the cost of capital continued to climb and the potential for profit faded, the
Company's Board and management took steps to minimize product and operational
costs while they investigated various strategic opportunities and engaged in
discussions regarding lower cost distribution, alternate manufacturing and external
capital transactions with potential business partners. After reviewing Marcos's
business prospects and potential opportunities, the Company came to the conclusion that Administration of the Company would have the highest probability of returning the greatest value to its shareholders and creditors.
"Regrettably, despite the extraordinary efforts of our employees, suppliers and
dealers, we simply could not attain a profit point, reduce our cost base or raise the
necessary capital to sustain the business", said Tony Stelliga, Managing Director.
"My sincerest gratitude goes out to everyone that worked relentlessly to revive the
Great British Sports Car Company one final time".
www.marcos-eng.com
Marcos Engineering Appoints Administrator
Company proceeds to wind down operations
October 9th, 2007 - Kenilworth, UK. Marcos Engineering Limited ( "Marcos, the
Company" ) today announced that it has entered Administration with a view to
completion of existing work in progress. Marcos' plan of dissolution will see the
Company wind up its ongoing business activities, sell its assets and distribute
proceeds and beneficial interests to shareholders and creditors as soon as practicable.
In reaching this decision the Company considered a number of factors including the
Company's current and future strategic and market opportunities and business
prospects, limits on new capital from outside sources, increasing cost of ongoing
capital and prevailing economic conditions.
Marcos was founded in 1959 and went into receivership in 2000. The Company was
restarted in 2002, conducting business as an independent supplier of a new high
performance family of hand built lightweight sports cars that provide a uniquely
exhilarating driving experience. Despite mounting competition from companies with
substantially greater financial, technical, distribution and marketing resources Marcos continued to develop its sports cars that received international acclaim.
As the cost of capital continued to climb and the potential for profit faded, the
Company's Board and management took steps to minimize product and operational
costs while they investigated various strategic opportunities and engaged in
discussions regarding lower cost distribution, alternate manufacturing and external
capital transactions with potential business partners. After reviewing Marcos's
business prospects and potential opportunities, the Company came to the conclusion that Administration of the Company would have the highest probability of returning the greatest value to its shareholders and creditors.
"Regrettably, despite the extraordinary efforts of our employees, suppliers and
dealers, we simply could not attain a profit point, reduce our cost base or raise the
necessary capital to sustain the business", said Tony Stelliga, Managing Director.
"My sincerest gratitude goes out to everyone that worked relentlessly to revive the
Great British Sports Car Company one final time".
www.marcos-eng.com
So-
TVR
gone. but the molds and jigs would surely keep a parts supplier busy and they might be able/willing to offer a package for a kit car Griffith or Tuscan etc.
Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
MG
gone. amazing that, it's one of the few motoring names that's actually worth paying money for at a mass manufacturing level. Frankly I'm very surprised that someone hasn't started making them again (I'm not counting the few made recently as IIRC, there wasn't any serious intention of reintroducing the MGF. I heard that someone was planning remaking the Smart roadster as a new Midget. Did anything come of this?
AC
Gone? The Ace went from one concept to another but finally died. Are they still going?
Jensen
Gone. For good?
Ginetta
Gone. Resurected. gone again.
Evante
Gone. good idea though, fix the duff rear styling and it might work very well as a kit.
Strathcarron
Gone. copied by Marlin but actually now the property of Javan (sp?)
Will someone please resurect the Caterham 21? Or perhaps a plus2 version of the C21? Another cracking idea for a top end kit!
TVR
gone. but the molds and jigs would surely keep a parts supplier busy and they might be able/willing to offer a package for a kit car Griffith or Tuscan etc.
Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
MG
gone. amazing that, it's one of the few motoring names that's actually worth paying money for at a mass manufacturing level. Frankly I'm very surprised that someone hasn't started making them again (I'm not counting the few made recently as IIRC, there wasn't any serious intention of reintroducing the MGF. I heard that someone was planning remaking the Smart roadster as a new Midget. Did anything come of this?
AC
Gone? The Ace went from one concept to another but finally died. Are they still going?
Jensen
Gone. For good?
Ginetta
Gone. Resurected. gone again.
Evante
Gone. good idea though, fix the duff rear styling and it might work very well as a kit.
Strathcarron
Gone. copied by Marlin but actually now the property of Javan (sp?)
Will someone please resurect the Caterham 21? Or perhaps a plus2 version of the C21? Another cracking idea for a top end kit!
cymtriks said:
So-
Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
in 50 years of car munufacture they produced cars as kits for about 9 years. In the middle of their life. They started out making racing cars then road cars then 20 years later made some kits.Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
cazzer said:
cymtriks said:
So-
Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
in 50 years of car munufacture they produced cars as kits for about 9 years. In the middle of their life. They started out making racing cars then road cars then 20 years later made some kits.Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
But the point remains. Most of these failed companies would provide excellent oportunities for the kit car market.
cymtriks said:
cazzer said:
cymtriks said:
So-
Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
in 50 years of car munufacture they produced cars as kits for about 9 years. In the middle of their life. They started out making racing cars then road cars then 20 years later made some kits.Marcos
gone. less well known so probably only revivable as a kit car which is how they started out anyway.
!
But the point remains. Most of these failed companies would provide excellent oportunities for the kit car market.
I think I just got out of bed on the wrong side this morning.
The 21 is a lovely car (I own a yellow one with the first VVC dry-sump) but they where very expensive when new.
Caterham have tried to make a MKII, and the problem was the cost involve in making and developing a new car, i.e on the MKI the windows don't wind down, which doesn't bother me at all, but it will annoy other people. Would be be ready to spend 36K on a car which you cannot wind down the windows and a 4 cylinder engine?
I don't believe the MKII would be available as a kit.
Jack
Caterham have tried to make a MKII, and the problem was the cost involve in making and developing a new car, i.e on the MKI the windows don't wind down, which doesn't bother me at all, but it will annoy other people. Would be be ready to spend 36K on a car which you cannot wind down the windows and a 4 cylinder engine?
I don't believe the MKII would be available as a kit.
Jack
But the market for bone crushing bruisers is a small one, especially if the cars are expencive and unreliable. TBH why people pay upwards of £50k for nothing better than an assembled kit car is beyond me. The Tiv's I raced with were let down constantly by engine failures, no two the same. How does that show to fans or potential owners when the race cars broke so quickly?
The problem is that it is hard to compete with cars from Germany etc that do exactly what is says on the box. Rarely can manufacturers survive making cars for enthusiasts of that particular brand. They need to sell to the bigger market, and sadly, due to whatever reasons (lack of development, lack of £millions etc) the products just don't stand up to the competition. Sad, but british motor manufacturing (and motorcycle) has all gone this way, so nothing new here.
Jack_and_MLE said:
The 21 is a lovely car (I own a yellow one with the first VVC dry-sump) but they where very expensive when new.
Caterham have tried to make a MKII, and the problem was the cost involve in making and developing a new car, i.e on the MKI the windows don't wind down, which doesn't bother me at all, but it will annoy other people. Would be be ready to spend 36K on a car which you cannot wind down the windows and a 4 cylinder engine?
I don't believe the MKII would be available as a kit.
Jack
A KV6 (the Rover V6) will fit IIRC. A bike derived V8 would be a (expensive) possibility.Caterham have tried to make a MKII, and the problem was the cost involve in making and developing a new car, i.e on the MKI the windows don't wind down, which doesn't bother me at all, but it will annoy other people. Would be be ready to spend 36K on a car which you cannot wind down the windows and a 4 cylinder engine?
I don't believe the MKII would be available as a kit.
Jack
The main things to fix are the windows and the access problems caused by the shallow doors, both caused by trying to use the Seven chassis with its deep sides. Using a Seven derived chassis was the big mistake with the 21, a lot of the things that annoyed customers are directly related to this.
A backbone chassis would work but might be intrusive in such a small cockpit. A fabricated sill structure around the doors might be the best compromise or possibly a full composite tub with spaceframes front and rear.
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