UK car maker collapse update shows employees likely to be paid

Summarised from 2 outlets · Updated 14 Oct, 06:04 · Archive

An administrator's report shows that former employees of collapsed Bicester-based miniature car maker Hedley Studios are likely to receive full payment of money owed.

An administrator's report for the collapsed car maker Hedley Studios, published on 11 October, shows that former employees are likely to receive all money they are owed. The Bicester-based company, which made miniaturised electric versions of classic cars, had administrators appointed in March with the majority of its 74 employees made redundant.

The company had creditors worth £2,070,036. The largest debts included £618,464 owed to His Majesty's Revenue and Customs, £191,535 to Bentley Motors and £56,111 to transportation firm Pro-Logistics.

Following administration, the business and certain assets were sold to a connected party, Hedley Labs Limited, which changed its name to Hedley Studios Limited in May. The new company remains based in Bicester and has delivered miniature cars to customers including Hollywood actor Jason Momoa.

The taxman may not receive all of the £951,490 it claims to be owed, with the report stating only that it 'should receive a dividend'. Dividends to other unsecured creditors remain uncertain.

How it is being reported

• Update after UK car manufacturer collapse with employees made redundantAn update has been posted on Companies House about a UK car manufacturer's ongoing collapse that had previously resulted in jobs lost.Oxfordshire Guardian · 14 Oct, 05:00
• Update after UK car manufacturer collapse with employees made redundantAn update has been posted on Companies House about a UK car manufacturer's ongoing collapse that had previously resulted in jobs lost.Oxford Mail · 14 Oct, 05:00

In this story: Hedley Studios · Bicester · Bentley Motors · Pro-Logistics · Jason Momoa

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