Lotus Quashes Bankruptcy Rumors

Bankruptcy

Thankfully, initial reports of Lotus facing liquidation were well wide of the mark.

Yesterday wereported Group Lotus had been served a winding-up order and that liquidation ofthe umbrella company was a possibility. The story originated from Autocar which was tipped off that the name of Group Lotus, comprising of Lotus Cars, LotusMotorsport and Lotus Engineering, had appeared on the Companies Court WindingUp list that was to be heard by the High Court. Lotus has beenquick to quash the rumor, stating that it is not being liquidated.

As we suspected, such cases arise from creditors seeking to have a company’s assets liquidated as a result of unpaid debts. According to Lotus, such a contractual dispute was resolved weeks ago but the liquidation order was still on the High Court’s website as it was awaiting a judge to formally dispose of proceedings. Fans of the British carmaker and its lighweight sportscars can now breathe a sigh of relief.

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