MDA in Possible Liquidation?

Ron Earp

Admin
Title says it all, based on a post from a former employer. I quote:

"The company is in debt and i would advise anyone to not part with any cash until they have the product infront of them.

One of the units has now been cleared out and i was told he was in the process of putting the company into liquidation the last time i spoke to him.

Please be careful if you decide to buy from MDA.

If there are any existing MDA customers that are struggling i would be more than happy to help with any part of the build, bespoke parts and advice.

Regards,
Mudgey
"

Clearly I can't verify any of the info but thanks to Mudgey for posting it. I would hate to see anyone have a repeat of my own experiences. Typically by the time this information gets out in public it is far to late to save anyone but it is worth a try.

Ron
 
Re: Mda in possible liquidation - beware!

I spoke to Mark earlier at the Exeter Kit Car and Builders Show, he said he is cutting back on units he no longer needed and has no intention of closing down, as a prudent and experienced businessman, he is well aware of the problems that happen during these troubled "credit crunch" times, so is taking actions to alleviate any problem that may occur. If he feels that he needs to answer the allegations I am sure he will.
 
Re: Mda in possible liquidation - beware!

I also spoke to Mark at Exeter, and can confirm what Murray is saying. He also told me he had trouble with the units flooding and said the landlord wouldn't fix it.
I guess it's prudent for some companies to "slim down" and become almost garage-at-the-bottom-of-the-garden affairs.
Lets face it nobody NEEDS a GT40 replica, no matter how much we all WANT one, they are a luxury purchase and sadly are the first things to suffer when the screws are tightened!
Lets hope all the mfrs can come out the other end better and stronger!

Simon
 
Re: Mda in possible liquidation - beware!

I was communicating with Mark a couple of days ago via email (mdagt40 email address) and can go along with what the above 2 posts say that Mark is downsizing to avoid larger than necessary overheads whilst the economy is tight on luxury purchases.

I am not naive enough to believe that as a customer I will be told EVERYTHING that goes on there (nor should I be) but for now I am accepting what Mark says at face value. This grey area however is where innuendo and rumour start wild fires. I am sure that most manufacturers have been somewhat effected by current market forces (I am lucky to work in an industry that SO FAR hasn't felt the pinch), as said elsewhere lets hope all the manufacturers come out the other side, it is healthy competition that has driven the GT40 market to provide the quality of kits we see today.

By the way my MDA is up for sale (as I have moved across to a Mirage mono) see build thread for more details.
Mirage build thread
I will be posting for sale details soon (a couple of 1st option offers to come back 1st).

Regards

Craig
 

Ron Earp

Admin
Re: Be Aware - MDA in Possible Liquidation

I think I made it clear that what I posted in third hand and of course I cited the source. The third hand source I cite uses a "fourth source" with respect to liquidation. This information isn't verified and I do hope that MDA comes through this troubling time.

But, as many of you know I feel fairly strongly about information flow and when I see something like this than can affect a lot of souls I think it good to put it out in the open. Mudgey's original comments were buried in a thread about parts for sale and I doubt many of the general readers would run across that thread.
 
Re: Be Aware - MDA in Possible Liquidation

Mudgey is an ex employee of MDA as Ron almost said in the first post (Ron you wrote Employer). Mudgey has also approached MDA customers to try to glean information to supply other customers with items for MDA cars (I'm not going to get into the moral wrongs or rights to this). I will contact Mark Sibley and then relay his current situation to the group if he wants me to. MDA did have a stand at the Exeter show as already mentioned in another post, and although Mark is feeling the pinch he did say that he intended to continue. As the finance markets say "past performance is no guarantee of future results" and who knows what will happen to anyone in the industry, but I know Mark's intentions were to reduce outgoings and find better premises to continue through this recession.
Chris
 
Re: Be Aware - MDA in Possible Liquidation

Some customers have come to me asking if i can source parts for their cars as they are unwilling to trust mark. I'm not going to say how many but there are a good number of people who have paid money for things that are apparently 'on the shelf' and are still waiting a few months down the road for them.. i personally wouldnt put up with that.

I am going to help anyway i can and some people just want to get their cars finished who are completely fed up with the customer service and parts supply they have experienced from MDA..

Tbh chris you have over exagerated, but at the end of the day i'm going to do whatever it takes to help these people get their cars done. For most people its a once in a life time chance to own/build a car of this caliber and i think its unfair to have those dreams dashed due to one persons bad business practice!
 
Re: Be Aware - MDA in Possible Liquidation

personally i dont think this thread should be posted....mark and mudgey seem to have issues and need to deal with this between them....buy putting a company down in such a public way will not help any company in the current climate. i have purchased items from both people and was very happy with both of them, mark was even complimentry about muudgey when i went down to mda. when i went to see mark, i saw first hand his flooding trouble and totally understanding why he is down scaleing....isnt everyone these days.........i hope you guys settle this as it would be a pity .... if not i will buy you both a handbag for christmas so you can sort it that way!!!!
 

Ron Earp

Admin
Re: Be Aware - MDA in Possible Liquidation

Mudgey posted the initial information buried deep in another for sale thread. I brought it to attention to others because I thought it would be of interest. I don't find the information I initially coped here "putting down" a manufacturer.

In any event, I hope that MDA will get through whatever difficulties they are expericing and the MDA customers will be properly serviced. I thought that Chris's MDA that I saw in Germany was very nice and I hope MDA continues to produce cars.
 
Re: Be Aware - MDA in Possible Liquidation

I thought that Chris's MDA that I saw in Germany was very nice and I hope MDA continues to produce cars.


I hope so as it would be a shame to see such a great effort go all for not. I still believe MDA make one of the best quality space frame GT's out there - read my early build pics on the chassis, suspension etc for yourselves.

Posted for whatever it's worth...
 

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Hi Guys
So to bring this to the top is MDA still trading?
Whats happening at MDA?
Has there been any statment from Mark?
Are all his customers sorted out and happy or is there problems?
I think this needs answers please not silence.

Regards

Chris
 

Gordy

Lifetime Supporter
I thought after the RCR debacle we were going to let the affected parties sort these types of things out in private or at least not post unless we had a vested interest? Did I miss something?
 
Hi Gordy

So are you saying as an ex cop that people should remain silent and stand by whilst other get hurt?

Interesting point of view. Do you think that RF should have held their silence with half a million dollars worth of other peoples money whilst more were still paying deposits?
This has nothing to do with RCR but it is a request for honest information about a company that has many interested members from this Forum financially involved and waiting for parts and refunds.

If freedom of speech is no longer allowed on this Forum then I for one will consider any more contributions.

Regards

Chris.
 

Dimi Terleckyj

Lifetime Supporter
Hi Gordy
This has nothing to do with RCR or any other manufacturer.
It is purely to raise some awareness regarding a possible problem that could affect a lot of people if a company were to go under.

Asking general questions of this sort is not derogatory or agressive in any way.

It benefits everyone and the industry as a whole to know the facts.

Apart from the RF fiasco I was personally involved with a building company that went under and I was bitten to the tune of $250,000.
I only wish I had known a bit earlier than finding out the day the liquidation was published in the daily papers while I was still working on one of their jobs.

Dimi
 

Gordy

Lifetime Supporter
Maybe I didn't make my point clear, probably why I seldom weigh in on the forum.

Transparency in business is a great thing, but it seems the affected parties have had over a month to comment on this thread with relevant information and have not.

As a retired police officer that speaks volumes to me about the "problem" they are or are not having with MDA.

Didn't this start with a former employee comment ? Should that be considered?

Hoping that I am also allowed to have my opinion considered. If and when it becomes neccesary for customers to post with issues I think they should.

I can't believe that what happened recently made Fran's life any easier and in these tough economic times we should be trying to support all our friends.

By the way, I also am a supporting member since 2001, not sure why my symbol is not displayed, I just re-upped for another year.

Have a great day.
 
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Andy Sheldon

Tornado Sports Cars
GT40s Sponsor
Chris

I do not know MDAs situation but I can tell you were are getting a lot of MDA customers coming on to us for parts including the company that were agents for MDA in Italy.

Thanks

Andy
 
Hi Andy

I hear the same thing from other GT40 companies and specialists, I also here that no one is answering their phone line?
It will be sad if they have gone but they should make a statement.

regards

Chris.
 
sorry guys, i seemed to have missed something here. what is "the debacle over RCR " gordy. just point me to the thread . thanks, steve
 
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