My hope is for a management buyout/ family buy-back/Steve Morris coming to the rescue, or a combination of all 3..............🙃🤷🏻♂️
Austin Healey, Aston Martin, Alvis, Bristol, Daimler, Jenson, MG, Morris, Riley, Sunbeam, etc etc etc.....................MORGAN
I read this last week and was trying to find a couple of lines from the 2021 accounts.
The ultimate holding company Sports Cars (England) Holding Limited has outstanding debts of nearly £86 million. Most of which is group undertakings with a 12% intersest rate. The debt is growing by roughly £10million per annum. I guess a chunk of this represents what the family were paid, but Id be suprised if the family would return with that level of debt.
At 2000 cars a year £5k per car would be needed to simply stay still on debt payments that's are large part of any car sale. I'm no expert at this level of busines but they either need to make and sell more carsand that will involve investment in the site te alternative would be to more elsewhere or they push prices higher and higher. Both will present challenges.
I didn't follow what happened at Aston but it would be interesting if anyone did to compare the journeys for similariities. Do we see Morgan getting ready for an IPO in the next few years?
