The British-led Bloodhound SSC land-speed record project will sell its assets, following the collapse of its finances
Project Bloodhound, the British-led 1,000mph land-speed record attempt, has collapsed after failing to attract new investors. Bloodhound SSC aimed to break the current land speed record of 763mph, set 20 years ago by Andy Green in the supersonic Thrust SSC.
The Bloodhound Programme entered into administration in October 2018, after failing to attract new investors. Despite sponsorships from Rolls-Royce and Rolex, an additional £25 million was required to complete the project, which would have been used to push the jet-powered vehicle through its final stages of development.
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Early tests at Cornwall Airport saw the Bloodhound SSC land-speed vehicle easily reach 200mph. Over the coming months, the team planned to perform trials at 500mph and 800mph, before attempting its goal of 1,000mph.
Attempts to find a suitable buyer for the project proved unsuccessful, and it has now entered dissolution. Andrew Sheridan, the project’s joint administrator, said “we will now work with key stakeholders to return the third-party equipment and then sell the remaining assets of the company to maximise the return for creditors.”
What are your thoughts on the collapse of the Bloodhound Project? Please, let us know if you’ve got a spare £25 million in the comments below…