Lotus Group fights back against administration rumour

Group Lotus has strongly denied rumours that the company is going into administration describing recently published stories as an 'over-active rumour mill'.

The company has released a three-page statement disputing a story on the website Autocar.co.uk which claims a Lotus revival was under serious threat.

Lotus Group's parent company Proton was bought earlier this year by Malaysian company DRB-HICOM.

The story claims the new owner of Lotus Group's Malaysian-based parent company, Proton, is strongly rumoured to be eyeing strategies that could lead the Hethel sports car company into administration as a way of freeing it from around �200m worth of accumulated debts.

Similar stories on blogs and social media website Twitter have also prompted the car maker to release the statement.

A Group Lotus spokesperson said: 'The new Proton owners DRB-HICOM are currently in the middle of their due diligence of Group Lotus. There have been and continue to be positive discussions between Group Lotus senior management and senior management at DRB-HICOM both here in Hethel and in Malaysia. Despite various rumours in the media to the contrary, at no point has DRB-HICOM indicated to Group Lotus that they intend to put the company into administration and we welcome the opportunity to put that rumour along with incorrect speculation that production has stopped, that Dany Bahar is no longer CEO and that we are no longer involved in F1 to bed.'

It added: 'It's no secret that we are going through a very difficult time at the moment due to the change in ownership but we're doing everything we can to get through this period and come out the other side stronger than before. We're very grateful for the continued support we receive from the people of Norfolk and all over the world.'

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For the full story and analysis see the EDP tomorrow.

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