Case Studies
We have been privileged to have been instructed by our clients on a number of notable cases. Below are a selection of case studies to demonstrate a flavour of our work.
W Series Limited
Purpose
Administration
Sector
Open Wheel Single Seat Race Cars
Task
Valuation, Marketing & Sale
Location
United Kingdom
The administration process of the W Series has been a meticulous and transparent effort to ensure the best possible outcome for all stakeholders. At Wyles Hardy & Co, we are proud to leverage our expertise in valuations and asset disposals to deliver a professional and efficient service during this challenging period. – Dave Fletcher, Director of Wyles Hardy & Co.
Overview
In June 2023, W Series, the international single-seater motor racing championship for women, entered administration due to financial difficulties. Wyles Hardy & Co. were appointed to undertake the valuation and sale of the entire assets of the business through auction and private treaty sales. The disposal included a range of high-value assets, from racing cars, pit and paddock equipment, warehouse storage & transportation assets to branded equipment and memorabilia.
Method
Wyles Hardy & Co. conducted a comprehensive assessment of all assets, categorising them to maximise buyer appeal and ensure optimal returns. An auction strategy was developed to reach both specialist collectors and motorsport industry buyers globally. Marketing was tailored to highlight W Series’ unique position in women’s motorsport, with outreach through digital platforms, targeted ads, and trade publications. Assets were sold via online auctions and private treaty sales for more specialised or high-value items, enhancing the appeal and access for interested buyers. Rigorous valuations were provided to set reserve prices and establish market-appropriate expectations. Strict compliance with regulatory requirements ensured transparency throughout the process.
Results
- The online auction attracted significant global attention, with competitive bidding on W Series racing cars and technical equipment.
- Key assets, including cars and pit-lane equipment, achieved values exceeding initial projections through private treaty sales.
- Merchandise and memorabilia, marketed to fans and collectors, achieved an 85% sell-through rate, providing additional revenue streams.
Conclusion
Wyles Hardy & Co.’s strategic approach maximised asset visibility and engagement from a diverse audience of buyers. Through a mix of auction and private treaty sales, W Series’ unique assets were able to reach global markets, achieving strong financial results despite the company’s administrative status. The success underscores Wyles Hardy’s expertise in managing distressed sales and asset liquidations with a tailored approach that respects the brand’s heritage while focusing on financial outcomes.
