Sports car manufacturer stalls as it faces uncertain future

The future of Wellingborough automotive engineering company RML Group is unclear after the firm posted a notice of intention (NOI) to appointment administrators late last week.

RML posted the NOI through law firm Gateley on Thursday (June 15).

The firm has been trading since 1984 and has evolved from a business that supported the Aston Martin racing car team, to today where it worked in the automotive, motorsport, defence and new energy sectors.

RML’s latest accounts are made up to the year-ending October 31 2021 and outlined a business “significantly” impacted by the Covid pandemic. The accounts say that new business was delayed, its supplier base was “stressed” and it had to try and meet customer demands along with keeping its employees safe.

Despite this, the company invested heavily during the year, developing what it called a “classically themed” high performance collectors’ car, the RML Short Wheelbase.

Turnover during the year fell by a third to £9m, while RML posted a pre-tax loss of £1.1m.

The accounts state that RML started its next financial year with a strong order book, with high turnover secured “for the next few years” and a number of new projects in discussion in the automotive, SVO and EV sectors.

At the time, the company employed 99 people.

RML has been contacted for a statement.