White2505 0 Posted June 21, 2006 title says it all. talk on club gti forum is of TSR having gone bust. the receivers have apparantly seized all assests including customers cars until ownership is proved. anybody know anymore? Quote Share this post Link to post Share on other sites
VR6 0 Posted June 21, 2006 Why would they seize a customer's car? It's not an asset of the business. Unless it's until the invoice has been paid for the work ... but that would be normal anyway. Quote Share this post Link to post Share on other sites
White2505 0 Posted June 21, 2006 usual routine as I understand it is they seize everything and then release the car back to the customer on proof of ownership and payment for completed work. bigger issue is for those that have paid for parts and not received them yet as they will be bottom of the list of creditors and unlikely to receive any of their money back :( Quote Share this post Link to post Share on other sites
billinjah 0 Posted June 21, 2006 their name becoming increasingly bad a long way from the days when they were restoring mk1's with a huge following. Quote Share this post Link to post Share on other sites
vr6storm 0 Posted June 21, 2006 downhill since Tim Stiles sold it Quote Share this post Link to post Share on other sites
DEL VR6 0 Posted June 21, 2006 Tim Stiles is probably relaxing somewhere in the south of France, sipping on a cool drink... the ones where you get that lovely watery condensation on the outside of the glass! Quote Share this post Link to post Share on other sites
rmn 0 Posted June 21, 2006 Agreed, i have found their service getting worse over the past while Quote Share this post Link to post Share on other sites
Yandards 0 Posted June 21, 2006 A good friend of mine phoned them about getting a 16v head rebuilt a while ago and staged 1 at the same time. When he asked if they could provide a copy of the benchflow figures after the work he was told that they didn't benchflow their heads as they knew what they were doing ... :scratch: Quote Share this post Link to post Share on other sites
Supercharged 2 Posted June 21, 2006 Yandards, a good friend of yours - lol! I doubt Tim is very happy either as he still uses the TSR name as a reference in books etc... Quote Share this post Link to post Share on other sites
_Monkey 0 Posted June 21, 2006 Thing is, as talented as Tim is, he ain't a very nice person. I've heard a few things, being so close, including a certain RS4 engined Passat going walkies :wink: Quote Share this post Link to post Share on other sites
Supercharged 2 Posted June 22, 2006 From another forum.... Originally Posted by ianb Everyone The situation as far as I know at present is: Neil walked out and left his partner Jane holding the fort(and debt). Neil has still got the Passat which was in TSR's name. He's nowhere to be seen.Massive expidenture put into that car via the business! The owner Jane has now left. The phones have been switched off and you won't get a reply. The premises have been locked up at the end of today.I was told to get everything out before the receivers arrived. One of their project cars is a MK3 Golf which has an S4 engine in the front un- finished still in the workshop. No wiring needs loads of parts. The guy from London to my knowledge who is unaware of this has spent £12-15K on what he assumes is parts.........but the money has been spent elsewhere!!...and not on his car. The mechanics couldn't order parts from any of their suppliers as all accounts some time ago except 1 or 2 were put on hold. I think it's a shame as was once a thriving business specialising in the older GTI's has well and truly dead. Poor old Adrian and Justin were told a week ago to find another job...pension..what pension?...after 20 yrs working there...major life changing events.Tim had quite a good scheme running but I don't know whether the receivers got that too. Spoke Adrian today and he's got to 'sign on'...he never done it in his life. Bad news for me too....oh well better stick to more modern cars...at least Graham's still around at Lloyds garage working with Vince. Maybe they can take the name on or do something with their experience. Just one big mess Ian Quote Share this post Link to post Share on other sites
_Monkey 0 Posted June 22, 2006 Hmmm, :? I heard Neil signed the Passat over to himself before leaving (along with one months wages in advance!) Quote Share this post Link to post Share on other sites
rmn 0 Posted June 22, 2006 this all sounds like it will get very very messy Quote Share this post Link to post Share on other sites
Jim 1 Posted June 22, 2006 Incredible how some people can be so unscrupulous and basically run a business into the ground and completely shaft all of their co-workers just so long as they emerge 'ok' out of it all. Very sad and a very long standing name in the VW scene ruined. Quote Share this post Link to post Share on other sites
Crasher 3 Posted June 22, 2006 I think one of the main reasons companies like this are failing is the pressure put on them by e-bay. There is no way a company like TSR can compete with their overheads against some bod selling tuning parts from their bedroom. Quote Share this post Link to post Share on other sites
dazzyvr6 0 Posted June 22, 2006 it would be an ideal time for tim styles to buy it back at a knockdown price and rebuild his good reputation Quote Share this post Link to post Share on other sites
Henny 0 Posted June 22, 2006 yeah, but Tim retired and I seriously doubt that he'd want anything to do with the company anymore... Quote Share this post Link to post Share on other sites
DEL VR6 0 Posted June 22, 2006 yeah, but Tim retired and I seriously doubt that he'd want anything to do with the company anymore... Especially as he now lives in France, and builds the odd race car in his spare time at his own pace... and all just for fun! Why would you want to come back and have all that grief of your own business after that! Quote Share this post Link to post Share on other sites
Yandards 0 Posted June 22, 2006 Yandards, a good friend of yours - lol! Heh, no really it was - I looked at their prices but was offered the same job for around £200 less. Anyway if anyone buys a 16v/G60 head thats not from the head porn shop that is CNC heads then thats just silly. Quote Share this post Link to post Share on other sites
davidwort 0 Posted July 10, 2006 looks like CGTI got a nasty letter from the ex MD of TSR, they had to remove a thread where people were 'venting' about having lost money and kit due to what happened to the business: http://www.clubgti.com/forum/showthread.php?t=95585 Quote Share this post Link to post Share on other sites
Guest Posted July 10, 2006 you can't blame peeps for getting p!ssed tbh, if they have lost money/kit, but I suspect the majority were just flaming :( Quote Share this post Link to post Share on other sites
dub envy 0 Posted July 10, 2006 He sounds like a cock. (can I get sued for that?) Quote Share this post Link to post Share on other sites
Jim 1 Posted July 10, 2006 Quite probably yes. If such an email is recieved by the admin here, then make no mistake we will pull this thread - sure you can understand our position here! But I must say that I think its laughable that all this confusion is raining around TSR (and what has happened) yet they make no efforts to actually DENY what has happened or make any efforts to register on some of these forums and clear up the misunderstanding. Sued for calling a spade a spade.. gotta love the legal system in this country! Quote Share this post Link to post Share on other sites
CazzaVR 0 Posted July 10, 2006 What a shambles this whole thing is :( Clicky Quote Share this post Link to post Share on other sites
