Evelyn Partners team appointed Joint Administrators of W Series Limited
Kevin Ley and Henry Shinners of Evelyn Partners LLP were appointed Joint Administrators on 14 June 2023.
Evelyn Partners team appointed Joint Administrators of W Series Limited
Kevin Ley and Henry Shinners of Evelyn Partners LLP were appointed Joint Administrators on 14 June 2023.
The W Series launched in October 2018 as a free to enter championship that sought to provide equal opportunities for women in top level motorsports.
In October 2022, the Company announced the 2022 season was being curtailed and that the remaining three races of the season would not go ahead. The decision was made due to further investment, which had been promised, not being received and the directors sought to focus on the longer-term funding options for the championship.
Kevin Ley, one of the Joint Administrators, said: “The news will be upsetting for the Company’s employees and drivers together with the worldwide supporters of the championship.
The Company had been unable to commit to the 2023 race season due to its liquidity position. The directors had been in discussions with various parties to provide additional funding together with a potential sale of the business. Unfortunately, these discussions did not progress.”
Henry Shinners added:” The Joint Administrators will explore all available options to allow the W Series to restart in the future. We are seeking expressions of interest in the business and assets of the Company. We would ask that any interest is registered with us as quickly as possible.
“Staff had been made redundant or had left the business before our appointment and it has unfortunately been necessary to make the remaining staff member redundant. The Joint Administrators will be looking to support any staff impacted by the Administration, given the financial position of the Company, with making and progressing any claims with the Redundancy Payments Office.”
Administration Enquiries:
Interested Parties
Kevin.ley@evelyn.com +44 (2) 20 7131 8314
Henry.shinners@evelyn.com +44 (2) 20 7131 4339
Shareholder & creditor queries
Robbie.abraham@evelyn.com +44 (2) 20 7131 4264
Employee & general queries
Ryan.spinks@evelyn.com +44 (2) 20 7131 8037
About Evelyn Partners
Evelyn Partners was created in 2020 through the merger of Tilney and Smith & Williamson. With £63.0 billion of assets under management (as at 31 December 2024), we are one of the largest UK wealth managers ranked by client assets.
Through an extensive network of offices across 25 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands, we support private clients, family trusts and charities, as well as provide investment solutions to financial intermediaries. Our diverse client base includes entrepreneurs, C-suite senior managers and partners of professional firms.
Our expertise span both award-winning financial planning and investment management, enabling us to offer clients a truly holistic dual expert wealth management service. Through Bestinvest, we also provide an online investment platform and coaching service, for self-directed investors, consistent with our purpose of ‘placing the power of good advice into more hands’.