Mk2_heaven

:O i was shocked when i read it in motrorsport news this morning.

from motorsport news

"Safety devices, britains largest manufac turer of competition rollcages and other safety equipment has closed and gone into administration. The company`s Soham base was closed last wednesday and 45 employees were told they had lost there jobs. Motorsport news understands they will not be paid for june.
Scources have revealed that bad debts and a <B>general downturn in motorsport activities</B> led to the companies unsustainable financial situation.
Administration specialist baker tilly of milton keynes has been places in charge of the company and is assesing whether it has a trading future or whether the assets must be sold to repay creditors. Safety devices owner tony fall declined to comment"

Personally
i put this decline down to new labour banning anything fun! and/or petrol engined.
will be a great loss to the industry.

OllyK

I don't think they will be the last, in this sector or indeed others, before the next election.

Andy Tang

iTrader: (3)

I'm surprised as there seems to be an increase in people buying second cars for track fun.

I thought popularity of trackdays were being driven (excuse the pun) by the increase in fines, points, cameras, police, etc.

CrisPDuk

The problem is Andy that you don't have to have a cage in a track day car.
Unfortunately proper organised motorsport, especially at grass roots level & rallying in particular, is on the decline It is thanks in no small part to both this government deciding to withdraw legitimate EU set aside grant from farmers who allow ANY form of motorsport to take place on their land and also local authorities placing more and more restrictions on the activities of the remaining venues to assuage the complaints of newcomers (usually second home owning, X5 driving professional moaners) to the area

Gutmann pug

There is a difference between going into administration / receivership and closing down.
From my lowley knowledge level administration means they are being run by outsiders trying to save the company, receivers come in to wrap things up, sell plant, recoup money should the administration fail. Finally the place closes.
So there is still hope?


Gary

Diablo

Kind of Gary. Its a fairly complicated area, but in simple terms, following a legilation change effective September 03, administration takes place for one of three reasons.

1) To rescue the company as a going concern
2) To provide for a better return to creditors than on a winding up
3) To recover sums for secured or preferential creditors. (receivership by another name)

2 and 3 can mean pretty immediate close down and asset sale.

The complication is that receivers can also do any of the above - the main difference is simply who appoints, not the end result.

The people acting as Administrators/liquidators/receivers are the same, they just have a slightly different remit.

bottom line is safety devices may or may not be fooked. Its impossible to tell what the remit is at this stage.

Mk2_heaven

a mates got 3K worth of stuff on order and he aint gonna get it apparently we had a cage group buy going on that is also no longer happening.

the company needs saving they are the industry

midget1500

jesus, if we loose what must be the best known company in this area is there any hope? can't believe it! i have a safety devices cage in the mg.

no mention on their website though - http://www.safetydevices.com

rb5_336

yeah i lost money from a recent order

Carlos13

I phoned Safety Devices to enquire about cages on the day they went into administration. I managed to quickly phone a distributor who had one in stock and got it delivered quick smart. Very bad news, hope they are able to continue to operate.

andy97

iTrader: (1)

Did you pay by credit card, I am pretty sure you should be able to get your money back