{"id":2107007,"date":"2023-03-30T13:55:57","date_gmt":"2023-03-30T12:55:57","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2107007"},"modified":"2023-03-30T13:55:57","modified_gmt":"2023-03-30T12:55:57","slug":"jobs-lost-as-land-rover-defender-restorer-falls-into-administration","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2107007-jobs-lost-as-land-rover-defender-restorer-falls-into-administration","title":{"rendered":"Jobs lost as Land Rover Defender restorer falls into administration"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Spirit of 48 Ltd and its parent company, ARM Automotive Yorkshire Limited, have gone into administration with 17 staff losing their jobs.<\/span><\/p>\n<p>The Thirsk-based companies <span style=\"font-weight: 400\">are specialists in the restoration and adaptation of Land Rover Defender models. The group is also a retailer of quad bikes and other similar leisure equipment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Spirit of 48 was originally named LR Motors (Yorkshire) Limited. It changed its name to Spirit of 48 Limited in January 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following a period of escalating financial pressure, Mark Ranson and Emma Mifsud from the Leeds office of Opus Restructuring LLP were appointed as administrators to both companies on 16 March 2023 by the group\u2019s funding provider.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The companies ceased trading immediately on the appointment of the administrators, and 17 staff were laid off. Two staff have been retained to assist the administrators.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The administrators are now establishing the financial position of the two businesses and are working with agents, Sanderson Weatherall to maximise asset realisations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Assets and debts are still being ascertained and investigated, with the outcome for creditors currently described as uncertain.<\/span><\/p>\n<p>Ranson said: <span style=\"font-weight: 400\">\u201cOur initial focus is on identifying the financial picture at the two companies, so we can find buyers for the assets and return any third party items to their beneficial owners. <\/span><\/p>\n<p><span style=\"font-weight: 400\">&#8220;Any parties interested in acquiring the business and\/or making use of its premises should contact <\/span><span style=\"font-weight: 400\">us as soon as possible.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Specialist folded following &#8220;period of escalating financial pressure&#8221;<\/p>\n","protected":false},"author":238857,"featured_media":2107009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120667],"coauthors":[62387],"class_list":["post-2107007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smes","tag-featured-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jobs lost as Land Rover Defender restorer falls into administration | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"Specialist folded following &quot;period of escalating financial pressure&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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