Zenos Cars, the Norfolk-based makers of the E10 sports car range, has entered administration, blaming a recent downturn in trade.
The Zenos E10 is an open-top sports car which is very lightweight and is powered by Ford EcoBoost engines. The E10 range comprises of three variants, including the E10S and E10R, and all focus on appealing to driving purists and track day enthusiasts.
Founded back in 2012, Zenos has been an alternative to other lightweight sports cars such as those from Caterham, Lotus and Ariel. The profile of Zenos had grown significantly in recent months, thanks to appearances in TV and online shows, including an episode of The Grand Tour.
But earlier this week, it was announced in a statement that Zenos has entered administration and the main reason cited is “cancelled export orders in late 2016 resulted in a shortfall in funding, forcing the business to cease trading.”
The head of Zenos, Mark Edwards, said: “It is with great disappointment that the board has had to take this step. We still believe that our products offer unrivalled affordable fun and we have already made very good progress in developing the next product in our strategy.”
Begbies Traynor LLP will act as administrators for Zenos. A spokesperson from the firm said: “We are currently open to speaking with parties interested in securing a future for the business and would request that any enquiries are made directly with our London office.”
