Page "Aston Martin" Paragraph 17

Despite the cars ' appreciation in value, the company was often financially troubled.

In 1972, the company was sold to another company called Company Developments Ltd., backed by a Birmingham-based consortium, and chaired by chartered accountant and company director William Willson, MBE.

The company was resold, following a further bankruptcy event, by the Receiver in 1975 to North American businessmen Peter Sprague and George Minden for £ 1. 05 million.

A successful turn-around strategy led to the recruitment of 360 new employees and, by 1977, a trading profit of £ 750, 000.

The new owners pushed the company into modernising its line, producing the V8 Vantage in 1977, the convertible Volante in 1978, and the one-off William Towns-styled Bulldog in 1980.

Towns also styled the futuristic new Lagonda saloon, based on the V8 model.