Administrators have been appointed at Norfolk-based manufacturer of hand-built sports car manufacturer
The company’s new Beira sports car had been developed almost to the point of production but due to global pressures its overseas backers were unable to increase their investment, currently £850,000. This led to cashflow difficulties and the appointment of administrators McTear Williams & Wood. David Wood, a partner in McTear Williams & Wood, said: “We already have significant interest from potential buyers and are hopeful of concluding an early sale of Breckland Technology and its assets. Unfortunately all 16 employees, including the company’s directors, have been made redundant but we are optimistic that a sale could result in re-employment for at least some of these former employees.”
Breckland Technology was founded in 2000 and occupies a 10,500 sq ft facility on the Rash Green Industrial Estate in Dereham, Norfolk. Andrew McTear and Chris Williams from McTear Williams & Wood have been appointed as administrators.