Jensen Motor Cars, the troubled sports car maker, has been thrown a last-minute lifeline. The firm's administrator PKF says contracts have been issued to two unnamed bidders.

As AM went to press, sources close to the deal say the offer on the table could be sealed within 14 days and may mean production continuing at the company's Speke Hall car plant on Merseyside.

“We had acceptable offers from at least three bidders and we have accepted one offer under an exclusivity deal; contracts are out with an indicated completion date of about a fortnight,” says the source. The news comes after a difficult series of talks between PKF and bidders, which saw turnround company, The MacDonald Partnership, discontinue discussions, citing “unresolvable differences”, only to come back to the table days later.

Interest also came from Peter Gardner, MD of Wallasey-based GMT manufacturing, who first looked at the firm 10 years ago when it went into liquidation and is still thought to be interested.

Jensen Motor Cars was forced to sack its 35-strong staff on July 5 after failing to raise new investment.