January 27, 2009

Could Aston Martin be repossessed

It may seem like a far fetched story, but even the current chairman David Richards confirms that technically the company is in danger of being in breach of the contracts that it has with the banks.

This is not an immediate problem, but in the middle of the year, this could be a real a problem for the high end sports car maker.

In situations like this if there was a loss in confidence by the banks in the current management of the company, they could if they wanted repossess the company and either choose to run it themselves or sell it on to another buyer.

It is that point which will probably save Aston Martin from falling into the hands of the banks, because it is unlikely that any other organisation would be interested in buying Aston Martin.

Source [Auto Blog]