Coffee & Classics – April
This morning, we welcomed another group of classic car enthusiasts into The Atelier at Bridge Classic Cars for our most recent Coffee & Classics. While
This morning, we welcomed another group of classic car enthusiasts into The Atelier at Bridge Classic Cars for our most recent Coffee & Classics. While
2023 marks 100 years of MG. Known for some of the most popular British sports cars over the years, celebrating a century of automotive engineering
We have recently welcomed our 1929 Riley 9 Tourer into the Bridge Classic Cars workshop. Looking at this hill climber, it’s obvious that it is
News broke in the last couple of days, that automotive pioneer and multiple land speed record holder Craig Breedlove sadly passed away aged 86. Breedlove
Our 2011 Ducati 900 SuperSport has recently arrived at the Bridge Classic Cars workshop. This beautiful motorcycle will soon be a competition vehicle through Bridge
We have recently welcomed a new addition to the Bridge Classic Cars workshop in the form of our 1971 Ford Escort RS Mexico Recreation. This
After spending a bit of time in the Bridge Classic Cars workshop in 2020 for some minor repairs before going into storage at The Hangar,
Our very special 1968 Jaguar E-Type has been in the Bridge Classic Cars paint shop with Chris and Mauro. They have been applying primer to
Our stunning 1958 Austin-Healey ‘Frogeye’ Sprite has now sold out! Before that happened, Nicola Hume helped spread the word of this beautiful classic car via
When delivering classic cars, it’s always important to take extra care. Even small dings can cause much more damage than you might expect. When a
Some good progress has been made on our 1956 Jensen 541 recently. After being prepped and primed, the body and various components have been painted.
Our 1984 Suzuki GSX 400T was able to enjoy some time in the sun recently. After being in the workshop of JAL Restorations for a
If you enjoy playing along with Bridge Classic Cars Competitions, then you might be able to save some money every time you enter one of
Classic car technician Mauro has been painting the brake calipers on Director Craig’s 2015 Audi A5 Sportback. As you can see from the photos below,
Classic car technician Steve has been working on our 1956 Ford Thunderbird. During his investigation, he found that the anti-roll bar bushes were cracked and
We have recently taken delivery of some new seats for The Atelier at Bridge Classic Cars. Now that we are hosting more events, we have
Our 1976 Aston Martin AMV8 has continued to be prepped for painting by classic car technician Al. The below photos show some behind-the-scenes shots of
After putting it to a vote on the Bridge Classic Cars Facebook page, it was decided that the wheels on our 1969 Morgan 4/4 1600
We have recently welcomed our 1966 Fiat 500 into the Bridge Classic Cars workshop. After its owner took this beautiful classic car to a garage
Classic car technician Mauro has been refurbishing components from the engine bay of our 1996 Rover 220 Turbo. Now that the car is going back
Over the weekend, a very special project arrived at the Bridge Classic Cars Suffolk HQ. This Cobra project has been in the works for the
After months of research and development, the team here at Bridge Classic Cars are extremely excited to reveal the first stage prototype of our submarine
Our 2015 Land Rover Defender, formerly owned by TV Adventurer Ed Stafford, has been safely delivered to its new home with its excited new owner
Just arrived at the Bridge Classic Cars workshop is this 2000 Toyota Revius camper. The workshop technicians will be carrying out a full inspection on
Last night, we invited all of our Mini friends to come over to our Pettistree workshops for the live draw of our 1979 Austin Morris
This morning we welcomed the Mercedes-Benz club to The Atelier at Bridge Classic Cars. It was great to see so many members of the club
Princess Anne visited our neck of the woods recently, spending some time in Southwold where she went to the Adnams brewery. She visited the Suffolk
Olympian turned celebrity coach, Greg Whyte, was in Ipswich recently. As this is so local to us, we felt that we had to go and
There are always classic vehicles coming into the Bridge Classic Cars workshop. However, every now and again, multiple vehicles all show up at the same
Some of the team here at Bridge Classic Cars recently had the opportunity to hear the story of Rogue Trader, Nick Leeson from the man
This morning, we welcomed another group of classic car enthusiasts into The Atelier at Bridge Classic Cars for our most recent Coffee & Classics.
While they were here, they enjoyed lots of delicious coffee and snacks as well as getting to admire a range of classic vehicles up close.
Everyone here at Bridge Classic Cars would like to thank all those who attended and we look forward to seeing even more of you very soon for our next Coffee & Classics.
2023 marks 100 years of MG. Known for some of the most popular British sports cars over the years, celebrating a century of automotive engineering is something that many owners and enthusiasts around the world will join in with.
Since 1923, there have been multiple successes, challenges, innovations, and a whole load of cars! To recognise MG’s impact on British car history, it seems fitting to share some history of the MG brand.
In the early 1900s, William Morris began manufacturing bicycles in Birmingham. However, come 1911, he was selling and repairing a range of motor cars from his premises which he had now renamed Morris Garages.
1922 was the year when William Morris could quite possibly have made the best decision of his life when he gave his head salesman, Cecil Kimber, a promotion to the position of General Manager. Cecil was a special individual who could not only manage the showroom and garage successfully, but he also had a talent for designing car bodywork.
When Cecil Kimber came up with a bull-nosed Morris Cowley in 1923, the MG name was used for the very first time. This marked the beginning of a soon-to-be 100-year-old car manufacturer.
1924 saw a range of cars carry the MG badge. Known as ‘Kimber Specials’ it wasn’t long before larger premises were needed to keep up with the growing order book. 4 years later, in 1928, production was moved to an old leather works – the famous Abingdon factory.
In 1935, William Morris sold MG to Morris Motors. Prior to the sale though, MG had already produced a whole host of successful models including several Midgets, K-Type Magnette plus the L and M-Type Magnas.
Once under the control of Morris Motors, one of the first models to come out of the factory was the 1936 TA Midget. Before the first world war, the last few MGs to be built were the SA 2-litre, TA/B Midget, 1.5-litre VA, and the 2.6-litre WA.
During the war, Cecil Kimber left MG and sadly died in a train crash in 1945.
After the war had ended, MG went back to producing cars such as the two-seat TC, the 1947 YA saloon, and the 1949 TD Midget. Morris Motors would go on to merge with the Austin Motor Company in 1952 and formed the British Motor Corporation (BMC).
1956 saw the production of what would be a top-seller for MG, the MGA. The MGA was available in two forms, a coupe and a convertible. In 1959, a 1600 OHV-powered MGA arrived and the MGB came in 1962.
It was in 1966, when BMC changed its name to British Motor Holdings after its merger with Jaguar, that led to a further merger with British Leyland, that would end up with MG becoming a successful part of motoring history.
The MGB was quietly dropped in 1969. British Leyland certainly seemed to have a bias towards their Triumph models instead of MG ones. This was quite apparent during the 1970s when only the MGB V8 was produced under the MG brand. Once Midget production stopped in 1979, there was only one MG model left – the MGB with the now rubber bumpers. However, in 1980, British Leyland halted the production of MGBs and would go on to close the Abingdon factory.
MG went through various ups and downs over the next few years with a few notable models such as the MG badged Maestro โ noted at the time as the worldโs fastest hatchback, and the Montego. The 1.8-litre K-Series powered MGF in 1995 was also a big success.
2023 is, so far, proving to be a great year for MG. With the brand recently announcing that they have achieved a record first quarter, their 100th year seems to have started positively.
Already this year, MG has sold 20,679 cars with more than 12,000 being delivered in March alone. The brand is now positioned as the second-best-selling manufacturer of electric cars in the UK. More success has come from the MG4 EV being crowned ‘UK Car of the Year 2023’. The judging panel described the MG4 E4 as “a landmark moment for EVs”.
Surviving 100 years in the automotive industry is no easy task but that is exactly what MG has done. Despite all the challenges the brand has had to overcome, we are still in the fortunate position where we get to see a wide range of MGs on the road; and this is something that we hope will continue for another 100 years!
We have recently welcomed our 1929 Riley 9 Tourer into the Bridge Classic Cars workshop.
Looking at this hill climber, it’s obvious that it is a beautiful vehicle. It has a custom-made ash/aluminium body and has been fitted with a 1928 Ford Model A engine. The engine has undergone extensive modifications for competition purposes. These modifications include a 1929 Miller OHV conversion, with purpose-made manifolds and magneto ignition.
Our Riley 9 Tourer is with us for some trim work which classic car technician Brian has already started.
We are looking forward to seeing progress continue and getting this beautiful classic car back to its owner very soon.
News broke in the last couple of days, that automotive pioneer and multiple land speed record holder Craig Breedlove sadly passed away aged 86.
Breedlove was part of a small alumni that would push and reset the boundaries of speed in the 1950s and 60s while living to tell the tale, in a sport that would see far too many taken far too soon.
A Southern California native, Breedlove’s obsession with speed started young. At just 13 years old, he got his hands on a 32′ Ford Coupe that he would drive around in secret, but just a few years later at 17, he would be taking an alcohol fueled 1934 Ford to 154MPH on the dry lakes of the sunshine state. This, is where the story of the fastest man in America would begin.
He began his high-speed career in what would now be seen as the start of the golden age of land speed racing. Where amateur enthusiasts could take homemade creations out on the dried salt lakes such as Bonneville and El Mirage to achieve speeds unseen or unobtainable just a few years before. To put into context, in 1927 Sir Henry Seagrave achieved a two-way average speed on 231MPH in his twin-aero engined, purpose built land speed car ‘The Slug‘. In 1957, at the age of 20, Breedlove piloted an alcohol powered ‘belly tanker’ at the Bonneville salt flats to a new record of 236MPH.
His chosen career path, would see him work for legendary aircraft manufacturer Douglas (later McDonald Douglas) as a structural engineer. The skills and knowledge gained from this would have a lasting and impactful future on his later career, speed.
As the sun set on the 1950s, the age of jet power had truly begun to dawn over the horizon of land speed racing. In 1959, Breedlove began his first forays into this new method of propulsion and into the record books.
With a second hand J47 jet engine, Breedlove made his jet fueled way into history with the first iteration of the legendary Spirit of America.
This move into the jet powered world, would also begin one of the most exciting eras of speed the world had ever seen. The 1960s would see the land speed record set, smashed and reset multiple times over a matter of months as Breedlove entered the fray against drivers/builders such as Art Arfons and his half-brother Walt. This triangle of competition would push the boundaries of what people thought would be possible out in the emptiness of the Utah salt plains.
In his first time out with the J47 powered Spirit of America, Breedlove would run the ‘car’ at over 400MPH – clocking a 407MPH average over the two-way course. In response, Tom Green (the driver for Walt Arfons) would respond with a 413MPH record in February of 1964 only to have that record shattered by Walt’s half brother Art at the wheel of his own creation ‘The Green Monster’ with 434MPH. To respond, Breedlove came back with a 468, 500 and then 526MPH. This would spark one of the greatest rivalries in the automotive world between Arfons and Breedlove that would see them push eachother harder, faster and stronger towards what many see as the true ragged edge.
Famously, at the end of his record setting 526MPH run – both of the parachutes used to slow down Spirit of America tore to shreds and because of this, Breedlove completely burnt the brakes out trying to slow the several ton machine down. He outran the boundaries of the salt flats, rolling the ‘car’ into the lake which sat at the end of the course. His crew, fearing the worst, rushed down the course to help their driver… only to find him soaking wet and dancing on the waters edge and screaming ”and now for my next trick, I will set myself on fire!” A true reflection of a man who understood the risks but chased the rewards. His car was in tatters and he knew that someone would be along to challenge that record soon…
He wasn’t wrong, his biggest rival Art Arfons soon responded with a 536MPH record.
The only way to truly prove a point was to push the limit of what was even conceivable. Breedlove came back to Arfons’s record with a now historic 600MPH run in November of 1965. To back it up, Breedlove then pushed Spirit of America even further on the way back to get an average of 606.6MPH. The first man to run 500 and 600MPH. With the sound barrier growing closer and closer, pilots and builders had no clue when this would happen as it also depends on multiple environmental factors. Would the car simply slip past it like a plane? Or, because of the shockwave being created so close to the ground – would it instantly rip the land speeder apart as it traveled across the vast emptiness? No one knew.
The following story has passed into speed record folklore: Breedlove and Arfons were bitter rivals. Arfons being the working mans hero and Breedlove as the all-American poster boy with the backing of huge sponsors and wore a spacesuit for his record runs. One night, towards the end of those crazy few years, Breedlove and Arfons would meet on the edge of Salt Flats. No one knows the words the two contemporaries exchanged exactly, but people have said it went along the lines of one asking the other ”when does all this end?” with the other replying ”when one of us gets it wrong”.
The fear didn’t stop Breedlove from trying to push the limits harder and harder. Over the following years, Breedlove would attempt to beat his records. However, he never did manage to push that any further but neither did Arfons who trying to break a record would see him survive the fastest and most severe accident on earth at 609mph with only a headache and two black eyes.
Over those beautiful few years in the early to mid 1960s, these superhumans would expand what people thought was possible. New ways to engineer solutions to problems never before faced – tyre technology, suspension set up and construction and advanced aerodynamic theory and implementation were all aspects of the automotive world which had been moved on at a pace no one had seen before.
In the following 20 to 30 years, the land speed record would only be moved on by around 100MPH. The current record being attributed to Richard Nobles Thrust SSC, an evolution of everything learned from pioneers such as Breedlove, to 763.055MPH – breaking the sound barrier for the first time on land. Breedlove’s status in the history books are sealed, his achievements and records can never be taken away or tainted or disputed.
The wonderful story of this gladiator of motion is best summed up in a beautiful film, The Wildest Ride. Released in 1964, it follows Breedloves attempts and record run to be the first person to cross the 500MPH mark (you can watch the film for free on YouTube below).
Craig Breedlove, and the team behind Spirit of America, were true pioneers of their time. From all of the world, and all throughout the car world, he will be sorely missed. One of the final connections to those glory days of speed.
Our 2011 Ducati 900 SuperSport has recently arrived at the Bridge Classic Cars workshop.
This beautiful motorcycle will soon be a competition vehicle through Bridge Classic Cars Competitions and we are very excited to see it go to a new owner in the near future.
We have recently welcomed a new addition to the Bridge Classic Cars workshop in the form of our 1971 Ford Escort RS Mexico Recreation.
This will be a future competition car for Bridge Classic Cars Competitions and we are expecting it to be extremely popular. Before that can happen though, it will go through a full inspection and assessment with our team of experienced technicians.
When it arrived at the workshop, Craig took it out for its first drive with us and it was a lot of fun. The car got lots of attention from people in the local area and we are sure this will be the case for the lucky winner in the future too.
After spending a bit of time in the Bridge Classic Cars workshop in 2020 for some minor repairs before going into storage at The Hangar, our 2016 Ford Mustang GT is back!
This time, it’s back for a very exciting reason…it’s now a competition car that will be won through Bridge Classic Cars Competitions.
Our Mustang is loud, it’s fast, and it’s an eye-catching car that will be sure to get a whole load of attention wherever it ends up. You can enter the draw to win this stunning muscle car once it goes live on the Bridge Classic Cars Competitions website very soon.
Our very special 1968 Jaguar E-Type has been in the Bridge Classic Cars paint shop with Chris and Mauro. They have been applying primer to the bonnet of this future competition car.
What makes this car so special is that you will be able to help us make some of the decisions along the way as we work to restore and rebuild our E-Type.
As you can see from the images below, our 1968 Jaguar E-Type is beginning to look very good and we look forward to getting you involved with its progress very soon.
Our stunning 1958 Austin-Healey ‘Frogeye’ Sprite has now sold out!
Before that happened, Nicola Hume helped spread the word of this beautiful classic car via her Instagram story.
When delivering classic cars, it’s always important to take extra care. Even small dings can cause much more damage than you might expect.
When a vintage Corvette was being delivered to its owner in America recently, much more care should have been taken to avoid the disaster that took place. As the classic car rolls off the back of the transporter and crashes down into the road, it certainly won’t be in the condition the owner would expect it to be in on delivery.
Shared on TikTok, the disastrous delivery can be seen below.
Some good progress has been made on our 1956 Jensen 541 recently. After being prepped and primed, the body and various components have been painted. As you can see from the images below, the new colour looks great and was the perfect choice from the owner of this classic car.
While Chris was painting our 541, classic car technician Brian was working on the interior. He cut out the under-dash panels along with the kick panels and air vent holes.
Our 1984 Suzuki GSX 400T was able to enjoy some time in the sun recently. After being in the workshop of JAL Restorations for a while, it has finally been able to be photographed outside in the sunshine!
It’s always exciting to get updates on this special project and we love seeing the bike outside and moving closer to being back out on the road again at some point in the future.
If you enjoy playing along with Bridge Classic Cars Competitions, then you might be able to save some money every time you enter one of the draws.
Our exclusive VIP membership gives you an extra 10% off all competition tickets. Whether you are buying tickets at a launch sale price, using an email coupon code, or purchasing at full price, the 10% VIP discount will automatically be applied to all of your purchases.
For just ยฃ10 a year, you can become a VIP member and save an extra 10% every time you enter one of our competitions.
If you are not already a VIP member and youย enter our competitions regularly, then you could save money with our VIP membership.
Classic car technician Mauro has been painting the brake calipers on Director Craig’s 2015 Audi A5 Sportback.
As you can see from the photos below, the newly painted calipers are looking great and make this already stunning car, even more pleasing to the eye!
Classic car technician Steve has been working on our 1956 Ford Thunderbird.
During his investigation, he found that the anti-roll bar bushes were cracked and perished. This was also the case with the power steering hose. Steve also found that the right-hand exhaust manifold was cracked and leaking.
Other issues that Steve noticed included the paint peeling off the sump and the rear shackle bushes being cracked and perished.
These issues will need to be resolved before this eye-catching classic car can get back out on the road.
We have recently taken delivery of some new seats for The Atelier at Bridge Classic Cars.
Now that we are hosting more events, we have been working hard to make the building as comfortable and as welcoming as possible for everyone who attends, and the chairs are the latest addition.
The Atelier continues to transform into a stylish petrolhead location and we are looking forward to welcoming even more of you to the workshop very soon.
Our 1976 Aston Martin AMV8 has continued to be prepped for painting by classic car technician Al.
The below photos show some behind-the-scenes shots of what he has been up to as our Aston gets ready for a new coat of paint.
After putting it to a vote on the Bridge Classic Cars Facebook page, it was decided that the wheels on our 1969 Morgan 4/4 1600 should be painted silver instead of keeping them their current red colour.
The wheels have now been removed from our classic Morgan and they will soon be back on the car looking very different in their new colour scheme.
As a future competition car, it was great to put a decision like this to a public vote and we look forward to getting the freshly painted wheels back on the car very soon.
We have recently welcomed our 1966 Fiat 500 into the Bridge Classic Cars workshop.
After its owner took this beautiful classic car to a garage for some welding work, it has since been running badly and consistently sitting at high revs.
While it is in the workshop, our team of experienced classic car technicians will be investigating the running problems and finding the best way to resolve them ready for the vehicle to be returned to its owner.
Classic car technician Mauro has been refurbishing components from the engine bay of our 1996 Rover 220 Turbo.
Now that the car is going back together after being repainted, jobs like this make all the difference to the overall look of the vehicle. Along with the engine bay components, the wheels of our 220 Turbo have also been refurbished and are looking very good too.
To finish off the paint job, the roof of our 1996 Rover 220 Turbo was painted.
Over the weekend, a very special project arrived at the Bridge Classic Cars Suffolk HQ.
This Cobra project has been in the works for the past 30 years with its previous owner, but now the current owner has bought it to our Pettistree workshop to get the car working and fitted out before then moving onto the next phase of work.
We’re excited to get started on this Cobra and make sure you check out the Bridge Classic Cars news page for more on the Cobra project very soon.
After months of research and development, the team here at Bridge Classic Cars are extremely excited to reveal the first stage prototype of our submarine car. Loosely based on an Amphicar 770, our Sub-A-Roo is now moving into the testing phase.
Once the roof is in place on this game-changing vehicle, the Sub-A-Roo will be able to stay underwater for several days without needing to resurface. Thanks to some incredible ingenuity from our team of technicians, provisions for 2 passengers for 2 days can be kept on board.
Reaching depths of up to 100 metres, underwater, the Sub-A-Roo can travel at speeds up to 20mph while a land speed of up to 35mph is also possible in the right conditions.
With a completion date planned for mid-October, mass production will hopefully begin in early 2024.
We look forward to sharing more exciting updates with you over the coming weeks and months.
Our 2015 Land Rover Defender, formerly owned by TV Adventurer Ed Stafford, has been safely delivered to its new home with its excited new owner Jamie.
We wish Jamie many happy miles (on and offroad) with his new Defender!
Just arrived at the Bridge Classic Cars workshop is this 2000 Toyota Revius camper.
The workshop technicians will be carrying out a full inspection on the camper as with all of our new arrivals here at our Suffolk HQ.
Take a look at this awesome campervan:
Last night, we invited all of our Mini friends to come over to our Pettistree workshops for the live draw of our 1979 Austin Morris Mini in our Atelier building.
With the weather holding off, we opened the doors for everyone to come in with incredible woodfired pizzas from Picollo Pizza Box and the Atelier Bar serving everything from our Rijo42 Coffee to the always popular Adnams 0.5% range – Our friends had something in hand to listen to the amazing set by Annika Rands.
As the clock struck 7PM and the sun began to dip lower across the Suffolk countryside, it was time for us to find out who the lucky winner of our 1979 Austin Morris Mini was! Would it be someone in the room…
Molly and Freddie took our virtual friends are the Atelier through our Facebook live stream, going through some of the upcoming competition cars as well as some other exciting news about a very special Jaguar which you’ll find out more about very soon.
At 10 past 7, as always, the competition closes. This marks the point where fate and luck collide as we find a new home for a dream classic somewhere in the UK. With only a couple of hundred tickets remaining, Molly gathered everyone in the room a little closer and beckoned those behind a screen to edge forward on their seats.
As with every live draw, we wait until everyone (both in the room and on the web) can clearly see our screen loaded up with the Google Random Number Generator. After a quick test outside of the 1-4999 tickets, everything was in place to find the classic Mini a new home.
Molly carefully and precisely put the numbers in, 1 and 4999 for the generator to search through. With a drum roll and a countdown by everyone in the audience, Molly clicked the fateful button which has led to over 130 people winning through Bridge Classic Cars Competitions.
4027.
Those were the exact numbers that showed up bold and resolute on the screen.
That particular ticket had been part of a handful of tickets bought by Anthony Wardley – The new owner of our 1979 Austin Morris Mini 850.
This morning we welcomed the Mercedes-Benz club to The Atelier at Bridge Classic Cars.
It was great to see so many members of the club enjoy a coffee with us before going on a guided tour of the Bridge Classic Cars workshop. Everyone here had a fantastic time, the atmosphere was extremely positive, and we hope to see you all again very soon.
Princess Anne visited our neck of the woods recently, spending some time in Southwold where she went to the Adnams brewery. She visited the Suffolk coast as part of the 150th anniversary of Adnams.
A day before her trip to Southwold, the Princess Royal was in Ipswich where she commissioned the Horace & Hannah, a 1906 Great Yarmouth Shrimper boat, at the Old Custom House on the Waterfront. Princess Anne also officially opened the new joint police and fire station in the town too.
On being part of the Adnams celebrations, the Princess said that she was “delighted” to be invited and she hopes to “make sure that the skillset continues to exist, not forgetting the value it has in the future, nevermind the past”
It’s always exciting to see a member of the Royal family in the local area so we were very happy that Princess Anne was putting Suffolk in the news for a few days.
Olympian turned celebrity coach, Greg Whyte, was in Ipswich recently. As this is so local to us, we felt that we had to go and listen to him speak at the Ipswich Sporting Lunch Club, hosted at local restaurant Venue 16.
Greg spoke to a large audience of local business leaders and professionals about raising funds for SportsAid.
According to their research, SportsAid has found that, before becoming a household name, talented athletes will spend 10,000 hours and thousands of pounds to make it to elite level. Without funding and support from SportsAid, this simply would not be a feasible option for many promising sports stars of the future.
SportsAid Suffolk has already raised and distributed more than ยฃ300,000 to support young people in the county.
The Ipswich Sporting Lunch Club was founded in January 2015 and is sponsored by six businesses based in Suffolk โ Pound Gates Chartered Insurance Brokers, Ensors Chartered Accountants, Ellisons Solicitors, StrategiQ, Handelsbanken, and Beckett Financial Services.
There are always classic vehicles coming into the Bridge Classic Cars workshop. However, every now and again, multiple vehicles all show up at the same time.
After a successful day at auction recently, we received a delivery of several vehicles that we were very excited to welcome into the workshop. In the back of the car transporter was our 1958 Austin Healey Sprite, our 1969 Morgan 4/4 1600, and our 1998 Lotus Elise S1.
We are looking forward to sharing more information on these beautiful classic cars very soon!
Some of the team here at Bridge Classic Cars recently had the opportunity to hear the story of Rogue Trader, Nick Leeson from the man himself.
For those who don’t know, Nick Leeson is a former trader who ended up in prison after he single-handedly bankrupted Barings Bank in 1995. Although he was ultimately convicted of fraud, Nick actually started his trading career as something of a future star. After making massive profits for Barings, Nick was moved to Singapore where he made his first unauthorised trades.
Nick’s role should have been cash-neutral for his employer, meaning that any profits and losses belonged to the client’s portfolios that he was managing. Barings Bank would get a commission for any successes but they wouldn’t lose any money in the trades. However, what was actually happening is that Nick was using the bank’s money to try and recoup trading losses.
Nick used the extremely risky strategy of betting double the amount of money lost to try and get the losses back while making a profit too. This ended up with Barings Bank losing a total of ยฃ827 million in 1995. This huge amount of money was double the bank’s trading capital and proved to be the beginning of the end for the 230-year-old bank.
While in prison, Nick wrote a book called Rogue Trader which subsequently was adapted into a film starring Ewan McGregor and Anna Friel in 1999.
Obviously, the actions of Nick Leeson impacted a huge number of people and there is still a strong element of controversy and emotion that surrounds him. That being said, hearing his story and his explanation of what was going on at the time was certainly very interesting and something that the team will remember.
Bridge Classic Cars are award winning Classic Car Restoration and Maintenance specialists. Your pride and joy is in safe hands with our expert Classic Car Technicians. Take a look at our awards here.
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