Lotus Refutes Bankruptcy Rumors

Lotus Refutes Bankruptcy Rumors

Group Lotus plc, which is made up of Lotus Cars, Lotus Motorsport and Lotus Engineering, will appear in Companies Court today, as an application has been filed to have the company liquidated to pay its debts.

Lotus has already made clear that the application to liquidate the company comes from a supplier with whom the company’s debt was settled weeks ago. Lotus says that it will not liquidate, and that this court date is merely a formality, as once the proceedings have begun, they must go before a judge.

This type of case is common when a creditor or group of creditors seek to have a company’s assets liquidated as a result of not paying debts.

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