Fri, 12 Nov 2010 | ADMINISTRATION
Range Rover specialist, Overfinch Bespoke Vehicles Limited, has been placed into administration due to cash flow problems.
The business is continuing to trade while the appointed administrators at Wilson Field seek a new owner. Joint administrator Lisa Hogg said, “We are already in talks with a number of interested parties.”
Ms Hogg explained that over the past 18 months Overfinch had been hit by “significant one-off non-trading costs, which have severely affected cash flow.”
The firm makes the Holland & Holland Range Rover, which has been described as the most luxurious off-roader anywhere in the world. Its customers include the celebrities Coleen Rooney, Jeremy Clarkson and Steven Gerrard.
Established in 1975 and based in Farnham, Surrey, Overfinch sells its vehicles via 15 distributors in different countries including North America, Africa and Asia.
Roger Hutton of legal firm Clarion, that is acting as adviser to the administrators, commented: “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.”
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