Grey skies appear to have lifted over British sports car manufacturer Zenos, with the reports it has been saved from administration.

Its new owners, said to be led by a consortium of investors including the backers of AC Cars, famous for its reborn AC Cobra - seems to have struck a deal in secrecy, with reports of the take-over now starting to surface.

AC Cars, owned by South African businessman Alan Lubinsky - who purchased the rights to the Cobra name and intellectual properties in 1996 - will seemingly retain everything Zenos, from the factory right down to 10 new models.

A press release circulating online, reads: "Administrators have today successfully agreed the sale of the assets of British car manufacturer Zenos Cars Limited to a consortium of investors, including the backers of AC Cars Limited, thereby securing the future of the business."

The Norfolk-based company was forced into administration after a series of cancelled export orders in late 2016 which led to a shortage of funds. Launched in September 2013, Zenos specialised in high performance, ultra-lightweight, yet affordable, ‘razor sharp handling’ sports cars.