In response, Tom Gratrix, head of Sharp's sent a telegram to the Chancellor warning that unless a similar tax cut were given to the purchase tax rate for three-wheelers, there would be 300 redundancies and possibly the closure of the Sharp's factory.
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The company was taken over by the Reliant Motor Co Ltd of Tamworth, Staffs in February 1969 who eventually closed the Preston factory in August 1970, transferring the spare parts business for the Bond Minicar, 875 saloon, 875 Ranger van and Equipe models to a firm called Bob Joyner & Son in Oldbury in the English Midlands.