HPL Prototypes, a renowned Coventry-based company specializing in designing and engineering prototype and concept cars, has entered administration, resulting in the loss of 65 jobs. The firm, which has a history tied to iconic British car brands such as Jaguar Land Rover, Bentley, Rolls-Royce, and Triumph, is now struggling amid financial difficulties and economic uncertainty.
Accounting firm RSM UK has been appointed as joint administrators following the company’s financial distress. A spokesperson from RSM UK confirmed that employees have not been paid for six weeks and are still owed overtime wages from work done during the Christmas period. The spokesperson added that affected staff are filing claims with the Redundancy Payments Service to recover their outstanding salaries, including overtime.
HPL Prototypes has a rich heritage dating back to the 1920s. It was home to Triumph’s Le Mans racing team in the 1950s and served as Triumph’s prototyping division between 1960 and 1980. Over the decades, the site has been instrumental in the development of notable vehicles such as the McLaren F1 concept car and the Bentley Java concept car. The company embraced this legacy and aimed to continue pioneering automotive engineering at the forefront of the industry.
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The closure of HPL Prototypes is part of a wider pattern of business shutdowns across the UK, impacting a range of companies from major retailers to independent enterprises. Coventry North West MP Tatwo Owatemi, who visited the site in January, praised the company’s “incredible innovation” and highlighted the importance of its skilled workforce and advanced facilities to the city’s proud manufacturing heritage and future prospects.