Purpose: Administration
Task: Valuation, Marketing and Realisation
Sector: Automobile Manufacture
Location: UK West Midlands
Wyles Hardy & Co were appointed by the Administrators to assist in the appraisal of the sports division of MG Rover Group.
The remit of Sport & Racing was to promote the MG Rover brand through the development of specialist vehicles and parts for road, race and rally.
Sport and Racing held sole responsibility for the engineering and development of the group’s motorsport programmes which in turn led to the launch of the MG SV, a V8 powered carbon fibre supercar, a race car for the road.
They were also responsible for the development of a number of land speed record cars and supporting a number of group N rally teams. This was in conjunction with promoting the MG and XPOWER sub brand through the ZR, ZS, & ZT variants of the MG Rover portfolio
Wyles Hardy provided both valuation and disposal advice in respect of the wide ranging automotive assets of the company.
We conducted a very successful webcast public auction sale on site at the company’s production facility in the West Midlands. We also discretely managed the sale of some twenty five MG SV motor cars over a twelve month period following a sale of the company’s intellectual property rights.
We are rightly proud of our reputation in the field of high performance, prestige and commercial vehicle, manufacture and have been involved in many interesting cases in this field, including:
- Bristol Cars Ltd. – Luxury Hand Built Cars
- Mayflower Group including, Dennis, Plaxton and Coventry Motorbodies
- TWR – Race Cars
- Simtek Grand Prix Ltd. – F1 Race Team