Racespeed Update

[Kris H]

For anyone who doesn't visit the dark side (SELOC):

 

Race Speed announcement

 

Quick message to everybody. Race Speed has got its position sorted out and is back in business this week. Outstanding orders should all be starting to get shipped before the end of the week. Le Mans is sorted as I will personally be paying the majority of the outstanding fees.

 

There will be quite a few changes to what we sell. On the plus side the new Lotus OE partts searchable database is up - lets you seacrh by name on car (for example you can search on the US 111r variant).

 

Some products will be disappearing as there is not enough margin to support the company - but engine conversions will definitely be continuing. However development is on hold for the time being so nothing new until after the summer to be released (unless I find others to fund development!).

 

The company is stripped back to e-mail only enquiries to try and economise on costs. But we will be putting quite a lot of effort intot eh website and adding FAQ's that will hopefully answer lots of questions.

 

Its going to take us a few days to get sorted, but we should be back in touch with all those that need contact withing a couple fo days to let you know when problems will be sorted, products shipped to you or money refunded.

 

We will also be introducing some things to give you plenty of confidence in our ability to deliver.

 

Thanks to all the customers and suppliers that supported us in quite a difficult and painful time - it certainly helped. The positive side is that I believe Race Speed is now in a stronger position than ever going foward, which can only be good news for customers.

 

Thanks again

 

Owen

[MattyB]

Excellent news

 

What *was* the problem before? Just more costs than profits?

[Kris H]

Cashflow I think - can easily happen - strangely particularly when business are doing quite well and expand too fast, particularly if a lot gets laid out before much is re-couped such as with upgrade developments or suppliers have to be paid in full before customers buy. Perfectly possible to be highly profitable but still go bang because of cashflow.

[Scott_Mac]

As you probably saw Owen was very cheap and i am guessing his margins were very low... this can cause cash flow problems obviously, but in an industry like that predicting supply and demand etc can be very tricky which can also lead to cash flow issues.

 

I'm very glad he's back, the RS kits are extremely tempting, however i reckon i have enough power at the moment to enjoy the car, so suspension may come first.

 

hopefully i'll get my ££££ back that i'm owed too.....

[Simon G]

Good news, let's hope Le Mans gets sorted out!

[Kris H]

I know - quite relieved actually since I hadn't had the heart to tell my mate who I'm going with that it was looking a bit t!ts up there for a while. From the stuff on SELOC it's now looking OK though, touch as much wood as I can find...