Zenos Cars, the business behind hardcore Lotus-rivalling sports cars and trucks like the E10S, has released a statement confirming it has went into administration. According to the Norfolk-based outfit, a “recent downturn in trade” was the main reason for the decision.
The statement states the administrators were appointed “after cancelled export orders in late 2016 resulted in a shortfall in funding, forcing the business to cease trading.”
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Managing director mark Edwards, formerly of Caterham as well as Lotus, stated “It is with excellent frustration that the board has had to take this step. We still believe that our products offer unrivalled economical fun as well as we have already made extremely great development in establishing the next product in our strategy”.
Edwards, together with fellow ex-Lotus worker Ansar Ali, developed Zenos cars and trucks in 2012. Ali left the business in 2015 to join McLaren, with Edwards leading the business since then.
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Begbies Traynor, the appointed administrators have specified they are “currently available to speaking to celebrations thinking about protecting a future for the business”.
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