Its all Over.

[Kevin H]

Originally Posted by Markus Berzborn

Or it is more a personal matter between Mr. Lewis and Mr. Silverton. Such things are difficult to judge from outside.

The story is that Toby was married to Joe Lewis' daughter when Joe invested in BCL, and apparently that marriage has been over for some time, so maybe the way Joe views his "investment" has changed.

Apparently Joe Lewis lost a lot of money (even by his standards) on Bear Stearns in 2008 and last year his investment in Mitchells & Butlers wasn't looking too flash either, so it's likely he didn't have much appetite for a business such as BCL where the potential downside was probably always going to outweigh the potential upside.

It's a shame Toby's sister Philippa (aka TLF799R) is no longer here to set us straight

Like Greg, I think someone will buy BCL, because it is too much of a unique brand to let it go under completely. But it may lose it's appeal if it doesn't remain in British ownership.

Could be an interesting liquidation auction if no one steps up to the plate!

In the mean time, I assume they are still trading?

[GREG]

Maybe a famous owner like Richard Branson ! although " Virgin Bristols " needs work :-)

Sort of good fun to speculate but I believe the funding will turn up to re structure the business.

[Peter Grace]

What would be interesting would be to learn what the company is worth?

[jimfoz]

Originally Posted by Peter Grace

What would be interesting would be to learn what the company is worth?

I remember Car magazine 'guessing' this 10 or so years ago - £10m was mooted, but it wouldn't be that now. They apparently own the freehold of the showroom in Kensington but I am not sure of the factory and workshop (which may have been up for sale during the relocation for financing?). The company may not be a complete basketcase - just a problem of cashflow and investment - who knows? They may come out the other end, but all the interesting stuff which made the company what it is will be replaced.

[Peter Grace]

As I understood it, everyone who met Toby Silverton was impressed with his business skills. The business was considered to be in capable hands.

If, more through family problems than business problems, the funding has just dried up, then Mr Silverton might simply have been caught out with, as Kevin says, an 'overdraft' problem. I think anyone who has run their own business would be sympathetic with that.

It does seem strange though, if again the stories of a two year waiting list are true, that they would close the Patchway plant, when that is surely generating real income for the company. This implies expenses are wildly out of control, or debt is?

It is also somewhat ironical that the servicing and parts business is considered the one worth saving in the interim, that the old Bristol community might, in the short term at least, be giving the old firm some hope?

[Peter Grace]

Slightly off topic, but not a lot off topic, this documentary might make some people feel a bit better.

Patrick Grant is the new owner of Savile Row tailors Norton & Sons and E Tautz. Buying an old established company of tailors is not the same as buying an old car manufacturing company, but I suppose the risks were pretty high.

If PR was a measure of success, then he has done very well so far.

In this series he tours Britain meeting the suppliers to his business, including the weavers of his fabrics (Harris tweed and flannels), sockmakers, shoes, wallet makers et al.

He is very funny, in that odd way the Brits are, with long monologues born of Python and Joyce and vaudeville routines.

Textile Factories Video Tour - Manufacture - Esquire

[jimfoz]

A few people have mentioned in other forums MOD contracts Bristol were doing that were cancelled which I never knew, although I think possibly the fact that the cars were manufactured near BAE and RR and the associated sensitive developments may have caused confusion in this respect??