TVR closes factory but fights on

Following TVR's shock announcement earlier this week that it is to close its UK car factory, the sports-car manufacturer has now announced bullish plans for its future.

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The Blackpool-based company, acquired in 2004 by Russian millionaire Nikolai Smolensky, has confirmed that it will close its only UK plant at Bispham, with the loss of 260 local jobs.

Earlier this year it had laid off 71 jobs there following a slump in sales - down from 600 cars a year in 2004 to nearer 300 now - and some radical structural changes implemented by its entrepreneurial new owner.

However, a spokesman has claimed that the factory closure merely coincides with the end of the current lease, and that the company plans to relocate manufacture. Although it is thought to be considering a site in Wales, it is widely believed in the industry that TVR may follow Peugeot's lead and move production to the cheaper costs of Eastern Europe.

In a bullish finale to its official statement, TVR claimed to be on track for Euro IV emissions approval on its home-made engines, which will help it sell into Europe, the USA and Middle East markets. It also promises "several surprises" on its stand at the upcoming British International Motor Show.

Car-lovers will hope those surprises are simply car-related, and help bring the good times back to one of the UK's most distinctive and exciting marques.