Administrators have been appointed for Bicester-based Hedley Studios Ltd which makes miniaturised electric versions of classic cars.
According to the Daily Express, the majority of its employees have been left redundant with administrators from Interpath having been appointed in the past week.
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More information is set to be revealed in the next 10 days about the collapse of the company which was based at Bicester Motion.
This comes after the business – formerly known as The Little Car Company – was reportedly saved in August last year.
Hedley Studios (Image: Bicester Heritage)
According to Sky News, FRP Advisory was understood to have acted as administrator before selling the business to an entity controlled by Island Capital Group, an US merchant banking group.
Since then there have been a number of people appointed as directors at the business including Ben Hedley and Nicholas Pike in December.
Following that, the business appears to have collapsed once again.
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Hedley Studios was founded in 2018 and manufactures its cars at three-quarters the size of the original model, with the resulting vehicles typically costing £75,000 or more.
In a statement issued in response to an enquiry from Sky News, the company said it had built and delivered more than 500 vehicles to clients in more than 60 countries in the 17 months to last year.
In its previous guise, as The Little Car Company, it hosted a royal visit with Prince Michael of Kent trying out some of the cars in 2024.
The company makes its cars in partnership with a range of luxury manufacturers, including Aston Martin, Bentley and Ferrari.
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