Description
Henry Shinners & Kevin Ley have launched the formal marketing process for the business & assets of the motorsports racing series.
The W Series was launched in October 2018 as a free to enter championship that sought to provide equal opportunities for women in top level motorsports. However, the business had been in hiatus prior to the appointment of the Joint Administrators. It had been unable to commit to the 2023 race season due to its liquidity position after failing to secure additional funding. Kevin Ley, one of the Joint Administrators, said: “The announcement that W Series had gone into administration was upsetting for all stakeholders that had previously been involved with and supported the championship. Since being appointed, we have received numerous initial expressions of interest in the business & assets. Now that we have formally commenced the marketing process, we ask that any interest is registered with us as quickly as possible ahead of the indicative offer deadline of midday on 12 October 2023. Wyles Hardy & Co has been engaged by the Joint Administrators to assist with the sale process. The assets for sale include: 19 single seater racing cars, 2 damaged cars (not track-worthy) & 1 show car (no gearbox or engine), 4 race trailer-bodied articulated trailers which operated as mechanics’ racing garages/pit lane support facilities, 1 race trailer fitted with an office facility, mechanics’ tools, equipment and spares & intellectual property enabling use of the W-Series brand.
Parties interested in acquiring the business & assets should contact Kevin.ley@evelyn.com and Hugo.goodson@evelyn.com immediately given the indicative offer deadline of midday on 12 October 2023.
