A producer of specialist autos together with ambulances and hearses is in talks about an emergency sale because it faces working out of cash.

Sky News has learnt that Rutland Partners is working with advisers from Teneo on an accelerated disposal of WNV Tech, which it acquired in 2020.

The firm, previously generally known as Woodall Nicholson Group, specialises within the manufacturing of electrical autos by plenty of subsidiaries, together with Vehicle Conversion Specialists (VCS).

Its Coleman Milne division produces electrical hearses and limousines.

One trade supply mentioned on Thursday that Rutland had injected greater than £5m into WNV Tech as lately as the previous couple of months, however that hopes of a solvent sale had been receding.

Final bids had been understood to have been sought by Teneo a number of days in the past, with the appointment of directors mentioned to be doubtless earlier than the top of the month if a purchaser is just not discovered.

WNV Tech employs 600 individuals and manufactures autos at 9 manufacturing websites, in line with its web site.

The underlying causes behind its monetary troubles had been unclear, as had been the identities of any potential consumers of the enterprise.

A sale of elements, slightly than the whole thing, of the group is feasible, one insider advised.

Rutland declined to remark.