Classic car brand Bristol Cars has gone into liquidation after 75 years of trading, following a court-ordered process.
The Bristol-based car manufacturer “finally succumbed” to financial pressure and winding up proceedings brought forward by HMRC.
Documents that were sent to Companies House last December reveal that the High Court of Justice said the firm should be wound up, with assets sold off to pay creditors.
A winding up order was then made against five group companies on 22 January, which was “swiftly followed” by an application to rescind the order. This application was dismissed by HMRC on 28 February.
As a result, the Bristol Automotive Group and its subsidiaries, Bristol Cars Ltd and Bristol Car Services Ltd, have officially entered liquidation. Jeremy Frost and Patrick Wadsted of Frost Group Ltd have been appointed as joint liquidators for the group.
The brand was founded in 1945, and was known for its bespoke manufacturing and high-quality model cars. It first entered administration in 2011, but was later bought out by current director Kamal Siddiqi.
Jeremy Frost said: “It is with regret that we have seen another iconic UK brand failing to deliver in a changing world.
“We have already received numerous enquiries relating to the companies assets and we are hopeful that we will be able to salvage some value for creditors as well as allow some memory of a former giant of British Industry to remain.”
He added that joint liquidators would continue to view creditors as a “priority” as they look to realise the companies assets.