UK sportscar maker Zenos in administration, for sale

Thu, 19 Jan 2017 | ADMINISTRATION

Administrators appointed to collapsed British sportscar manufacturer Zenos, whose lightweight cars featured on the latest series of Top Gear, are seeking new owners for the business.

The Norfolk-based firm, known for its E10 range of vehicles designed to offer “out-of-this-world dynamics with down-to-Earth running costs”, called in Begbies Traynor after being hit by a string of cancelled orders.

Yet there is hope a buyer will be found for the carmaker, which employs 20 people. Zenos managing director Mark Edwards said: “It is with great disappointment that the board has had to take this step.

“We still believe that our products offer unrivalled affordable fun, and we have already made very good progress in developing the next product in our strategy.”

It’s thought that a host of cancelled overseas orders late last year led to a lack of funds and forced Zenos to stop trading.

Zenos, founded in 2012, wanted to offer sports cars at affordable prices, with models starting at under £30,000. Its first car was the E10, followed by the E10 S - which was driven by then Top Gear host Chris Evans in the latest series of the motoring show - and the E10 R.

Joint administrator Irvin Cohen said: “We are currently open to speaking with parties interested in securing a future for the business and would request that any enquiries are made directly with our London office.”

View the details of the sale and make contact here

Find engineering businesses for sale.


Share this article



Latest Businesses for Sale

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
25
 
Jul
 

Welsh construction contractor selling assets | ADMINISTRATION

Administrators for the Port Talbot construction contractor J...

 
25
 
Jun
 

Port Talbot construction business enters administration | ADMINISTRATION

A construction company based in Port Talbot has fallen into ...

 
05
 
Jun
 

North Yorkshire bathroom supplier enters administration | ADMINISTRATION

A bathroom supplier has collapsed into administration after ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources