Aviation History and Nostalgia Whether working in aviation, retired, wannabee or just plain fascinated this forum welcomes all with a love of flight.

Sopwith/Hawkers

Old 11th Dec 2009, 19:32
  #1 (permalink)  
Thread Starter
 
Join Date: Nov 1999
Location: London UK
Posts: 536
Received 3 Likes on 3 Posts
Sopwith/Hawkers

I've read about Harry Hawker set up a new company to take over Sopwith's factory and with Tom Sopwith as part of the new company, but I can't figure out why.

Did Sopwith actually go bust?
Dr Jekyll is offline  
Old 11th Dec 2009, 21:32
  #2 (permalink)  
 
Join Date: Jul 2008
Location: Ex-EUROCONTROL land
Age: 76
Posts: 97
Received 0 Likes on 0 Posts
Sopwiths

Hi: Basically, yes they did go bust. After the First World War, the Company tried to diversify and enter non aviation markets, but without any real success. The final downfall occured when the Government of the day tried to get the Company to pay back money it had made during the wartime period, from its manufacture of aircraft.
In 1920 Sopwiths went into liquidation. Almost immediately though, Tom Sopwith and Harry Hawker started up another aviation company, the new concern being named Hawker Aviation.....
IFPS man is offline  
Old 12th Dec 2009, 08:52
  #3 (permalink)  
 
Join Date: Nov 2009
Location: Yorkshire
Posts: 288
Likes: 0
Received 0 Likes on 0 Posts
It was set up as H G Hawker Engineering Ltd but was never owned by Hawker, it was still basically the same Sopwith company, but took the name of Sopwith's test pilot to avoid having to pay crippling taxes on the former company's war profits. Just imagine if we'd had the Sopwith Hurricane, or Sopwith Harrier
HarmoniousDragmaster is offline  
Old 12th Dec 2009, 09:13
  #4 (permalink)  
 
Join Date: Nov 2005
Location: london
Posts: 379
Likes: 0
Received 0 Likes on 0 Posts
Not only Sopwith: Avro to Crossley, Airco to BSA, and widely in non-aero. In 1919 the issue of "merchants of death", the reward contrast between those that had made and those that had used munitions, caused a political need for a windfall tax. Overnight restructuring was a response, like a Small Works Builder liquidating to frustrate creditors. The lesson was learned by Treasury and for the Second time around UK had (from March,1939, Armament Profits Duty, then for any business, not just Munitions) Excess Profits Tax, designed to hold firms' profit-on-capital employed at some semblance of pre-War norm. From Sept.1941 it confiscated 80% of the excess of 7.5% on shareholders’ funds. Firms still folded (Cierva, Cunliffe-Owen, General, Miles, Parnall), unable to carve out civil work, but did not restructure to shelter past profits.
tornadoken is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.