Range Rover modifier Overfinch goes into administration
The creator of Range Rovers for the stars, Overfinch, has gone into administration.
The company, which has the likes of footballer Stephen Gerrard, WAG Coleen Rooney and TV presenter Jeremy Clarkson on its customer Christmas card list, has been hit by "significant one-off non-trading costs which have severely affected cash flow" over the last 18 months.
"We are continuing to trade the business while a purchaser is sought and we are already in talks with a number of interested parties," said joint administrator Lisa Hogg, from Wilson Field in Sheffield.
The firm specialises in applying performance and styling gloss to the already expensive off-roaders. Perhaps the most famous is the Holland and Holland Overfinch, which comes with a champagne console and a gun cabinet and the option of the 5.0-litre supercharged petrol or the TDV8 diesel engines.
Roger Hunt, senior partner at Clarion, the legal firm advising the administrators, said: "Given Overfinch's position as a world leader in its field and with its valuable intellectual property rights, we are confident that the business will be sold within the next few weeks, securing the future of its 20 staff."
Overfinch was formed in 1975, is based in Surrey and has 15 distributors throughout the world including Asia and North America.