UK car manufacturer makes major change after £2m collapse

Bicester-based Hedley Studios Ltd, which makes miniaturised electric versions of classic cars, had administrators appointed in March with the majority of its 74 employees being made redundant.

It was later revealed the business, which was formed out of The Little Car Company in 2025, has had creditors worth £2,070,036.

The biggest of these included £618,464 owed to His Majesty’s Revenue and Customs, £191,535 to Bentley Motors and £56,111 to transportation firm Pro-Logistics.

READ MORE: UK car manufacturer’s £2m debts to Bentley and tax collector

Now, on May 13, the company has revealed it will be changing its name, with Companies House currently referring to it as HSL Realisations 2026 Limited.

The details of the name change are currently being processed and are set to be made available soon.

The administrator’s proposal, compiled by representatives of administrators Interpath, details how the company struggled in late December 2025, and so former owner of the business Ben Hedley purchased the shareholding from Island Capital LLC.

The investor group had led to the acquisition of previous company The Little Car Company.

Prince Michael of Kent visiting The Little Car Company at Bicester Heritage (Image: BicesterHeritage)

Following the management buyout late last year, Interpath was appointed to explore sale and restructuring options as a short-term liquidity requirement was identified.

This means the business needed cash to cover upcoming payments, often within 30 days although this has not been confirmed in this case.

A spokesperson for the company said: “Interpath launched the early options process by marketing the business to over 250 trade and financial parties.

“The early options process ultimately resulted in no offers on either a solvent or insolvent basis.”

After this the company appointed administrators on March 4.

Prince Michael of Kent visiting The Little Car Company at Bicester Heritage (Image: BicesterHeritage)

The business and certain of the assets were sold to a connected party, Hedley Labs Limited, with £100,000 having already been received and a further £150,000 due in May.

As for Hedley Studios and its remaining assets, a spokesperson for Interpath said: “Whilst we consider it prudent to retain all options available, it is anticipated that the most likely exit route from administration will be via dissolution or a creditors’ voluntary liquidation.”

READ MORE: Director of UK car manufacturer leaves as company collapses

They added: “Following an extensive sales process, no offers for a rescue of the whole company were received and therefore rescuing the company…was not achievable.

“Therefore, our primary objective is to achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up.”

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.