Lola administrators re-employ some redundant staff

Lola car
Image caption In May Lola Group made 73 of its 176 staff redundant at its Huntingdon base

A number of staff made redundant after Huntingdon-based Lola Composites went into administration have been re-employed to fulfil new contracts.

The company together with Lola Cars - both part of Lola Group - were taken over by joint administrators CCW Recovery Solutions in May.

A spokesman was unable to indicate how many of Lola Composites' 36 redundant staff had been offered new contracts.

He added the administrators were "optimistic" about finding a new buyer.

In May Lola Cars International, which makes sports cars for track events including the Le Mans 24-hour race, announced 37 redundancies.

A further 36 staff were made redundant from Lola Composites, which provides design and engineering services to the defence, aerospace, communications, renewable energy and automotive markets.

Both companies have continued to trade while a new purchaser is sought.

The spokesman for the administrators said current orders, which would take until autumn to complete, indicated "trading will be profitable".

The amount of interest shown by prospective buyers indicated "a sale of one or both companies will be concluded in the near future", he added.

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