Superchips in liquidation

[Nismex]

Sad to see 😞 probably a reality many will be seeing in the near future.

https://www.mybluefin.co.uk/

[Stoney871]

[emoji25]

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[TomsFocus]

Maybe FOC could buy it if we all chip in...

I'm surprised such a large company can't sustain the lockdown though.  If they can furlough staff and get a holiday on premises rental & rates that should help tread water for now.  I wonder if they're pre-empting a much longer lockdown, or people not having the money to spend on remaps even after lockdown is lifted.  If that's the case though, who would risk buying the company right now? 

[Nismex]

I have no idea what I'm looking at or what it means, but the balance sheets show quite a substantial decrease from 2018 > 2019 on their cash at hand/equity etc.

March 2018 the company equity was £64000. March 2019 it was £2000.

The amount show to creditors year on year hasn't changed much, £150K > £200k but the last two years it seems they've been struggling.

Companies House

😞

[Eric Bloodaxe]

Shame, though I suppose the market for this type of tuning is in decline now, with the end of i/c engined cars getting ever closer.. I understand VW are in a mess with the software for the new electric ID range and were desperately looking for more software experts - maybe they could use some of the Superchips programmers?

[sussamb]

Great shame, I had Bluefin on my Mondeo a while back and now on my Focus, both times a great improvement 

[Guy Heaton]

Maybe cos more people are pcping their cars there's just less demand for remaps.

As much as I'd love 200bhp from my 182 it's a PCP car so I wouldn't risk it.

[alexp999]

I think the virus is just “the straw that broke the camels back”. 
 

It’s not the type of business to be severely impacted by the virus, so they must have been in trouble before it happened and this just finished them off.