Yorkshire entrepreneur saves 1,000mph vehicle project

A buyer has stepped in to save the company behind Project Bloodhound, the initiative to reach 1,000 miles per hour in a land vehicle.

On 7 December joint administrators of Bloodhound Programme announced that they have been unable to find an investor to take the project forward.

Soon afterwards, a number of other interested parties contacted the joint administrators and a purchaser for the business was eventually secured.

Bloodhound Programme has been acquired for an undisclosed sum by Yorkshire-based entrepreneur Ian Warhurst.

Andrew Sheridan, joint administrator and partner at specialist advisory firm FRP Advisory LLP, said: “We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future.

“Ian has a strong background in managing highly successful businesses in the automotive engineering sector and he will bring considerable expertise to bear in taking the project forward. He will be outlining his plans for the project in detail early in the New Year.

“In the meantime, we would particularly like to thank the Ministry of Defence and Rolls Royce for their support and collaboration throughout this process, without which it would not have been possible for the project to be in a position to continue.”

Foot Anstey provided legal services to the joint administrators, while Gordon Brothers acted as their chattel asset advisors. Claire Askew, director in Walker Morris’ Insolvency & Restructuring team, provided legal advice to Ian Warhurst.

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