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A few days later it was revealed another, second, request for government funds had been for £1,250,000 but three months later on New Year's Eve it was announced on the front pages of national press that while a much smaller government loan of £600,000 had been approved besides being inadequate it had
59:
offered to provide £100,000 of the required funds. Aston's 500 workers agreed to forgo wage rises for 12 months and they were given the opportunity to participate in a share-buying scheme. The shop floor gave management a unanimous vote of confidence. The reason for cash flow difficulties was given
86:
Lengthy and public wrangling with
Sprague over price arose from Willson's concern, over-ridden by the receiver, to achieve a better price for the Aston Martin business. At the offer price of £1,050,000 unsecured creditors would (and did) receive less than 10 pence in the pound and his own Company
50:
accepted presidency of Aston Martin with a seat on the board of directors. At the time Aston Martin had 500 employees. David Brown was later reported to have paid off Aston Martin's debts thought to be about £5 million.
60:
as
California's stringent exhaust emission tests halting Aston Martin's US sales. Owners were reported to have sent in cheques for £1,000 and more. Mr Robert Maxwell, again contesting (unsuccessfully) the local
54:
Three months after
Willson's firm took control a re-invigorated Aston Martin brought out two new models and the business was recovering. But in July 1974 a request for state aid of £500,000 was turned down. Mr
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He appointed one of his co-directors of
Company Developments, Geoffrey Fletcher, a property and building expert, as managing director and mechanical engineer, Harry Pollack, as technical director. Mr
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35:
In
February 1972 Willson, "an ebullient entrepreneur" along with other investors paid £101 to buy Aston Martin's business, then reputed to be losing more than £1 million a year, from
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The receiver sold the business as a going concern in March 1975 for about £1,050,000 to a consortium led by
Californian Peter Sprague (chairman of
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Himself and his wife Rachel
Willson were two of only 10 survivors of the 1957 Aquila Airways Solent crash Near Chessell, Isle of Wight, England.
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which was experiencing its own financial troubles. The new owner was
Company Developments his 4-year-old
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72:'s distributors. The same front-page report noted directors had requested the appointment of a
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investment concern chaired by
Willson who then became chairman of Aston Martin.
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been offered on the unacceptable condition that US sales would be handled by
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and Aston Martin would cease production and go into voluntary liquidation.
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Developments would receive only £500,000 in repayment of a £750,000 loan.
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780:
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Aston Martin requests state aid for cooperative with worker-directors.
83:) with Canadian George Minden and Jeremy Turner a London businessman.
28:(May 1927 – 25 December 2003), Chartered Accountant, was chairman of
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64:, was reported driving a newly acquired Aston Martin.
217:"Aston Martin sports car makers hit by hard times"
16:Chairman of Aston Martin 1972–1975 (1921-2015)
292:
244:, Wednesday, 12 Mar 1975; pg. 20; Issue 59342
141:, Wednesday, 19 Mar 1975; pg. 22; Issue 59348
8:
270:, Saturday, 12 Apr 1975; pg. 17; Issue 59368
180:, Thursday, 26 Sep 1974; pg. 21; Issue 59202
154:, Saturday, 22 Mar 1975; pg. 17; Issue 59351
167:, Tuesday, 24 Sep 1974; pg. 17; Issue 59200
137:Modified offer 'only hope left for Aston'.
128:, Thursday, 4 Apr 1974; pg. 37; Issue 59056
829:Members of the Order of the British Empire
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193:, Monday, 30 Sep 1974; pg. 19; Issue 59205
115:, Friday, 18 Feb 1972; pg. 15; Issue 58405
257:, Friday, 4 Apr 1975; pg. 19; Issue 59361
253:Aston Martin bid final, consortium says.
206:, Monday, 30 Dec 1974; pg. 1; Issue 59281
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266:Parting protest over Aston Martin deal.
189:£1.25m loan asked for by Aston Martin.
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7:
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202:Closure of Aston Martin firm today.
14:
240:Aston chairman's Benn challenge.
150:Third Aston offer by Mr Sprague.
111:David Brown sells Aston Martin.
313:road car timeline, 1948–1999 —
1:
824:British business executives
124:Motoring. Stuart Marshall.
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81:National Semiconductor
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37:David Brown Limited
32:from 1972 to 1975.
699:Limited Production
62:seat in Parliament
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616:V8 Vantage
522:William Willson
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819:Aston Martin
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767:Aston Martin
765:
582:Grand Tourer
550:2.6 ltr
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308:Aston Martin
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224:. Retrieved
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30:Aston Martin
21:
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814:2003 deaths
809:1927 births
754:Colour code
728:Concept Car
678:DBS V8
517:David Brown
226:9 September
48:David Brown
803:Categories
708:DB4 Zagato
682:AM V8
555:3 ltr
543:Luxury car
242:The Times
94:References
719:V8 Zagato
268:The Times
255:The Times
204:The Times
191:The Times
178:The Times
165:The Times
152:The Times
139:The Times
126:The Times
113:The Times
74:receiver
41:Solihull
781:Lagonda
745:Vignale
740:Bulldog
609:Vantage
600:Volante
573:Lagonda
532:et al.
318: »
311:Lagonda
778:
776:
764:
762:
564:Rapide
513:Owner
350:1990s
347:1980s
344:1970s
341:1960s
338:1950s
335:1940s
784:badge
770:badge
645:MKIII
640:DB2/4
735:Atom
536:Ford
331:Type
316:next
228:2021
665:DB7
652:DB6
635:DB2
630:DB1
605:DBS
596:DB5
591:DB4
26:MBE
805::
692:V8
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