Arrows demise brings down TWR.

There appears to be little love in the air for Tom Walkinshaw this Valentines' Day, as reports in the financial press confirm the downfall of the burly Scot's engineering firm TWR.

Following hot on the heels of the beleaguered Arrows Formula One team, of which he was head and which went into liquidation following a winding-up petition launched by former driver Heinz-Harald Frentzen last month, Walkinshaw's TWR Group has been placed into administrative receivership. The company was not only involved in motorsport, where it had a proud history in Indy racing, touring and sportscars as well as F1, but also produced performance engines and engineering work for major brands such as Ford, General Motors and Volvo.

Rob Hunt, representing receivers Price Waterhouse Coopers, told Britain's Financial Times that the collapse of the company, which employs around 500 people, had been caused by its investment in the Arrows team, rumoured to be around ?20million, as much as the current economic climate.

Hunt added that, while he was hopeful of selling the engineering business, he felt that Walkinshaw was unlikely to recoup any of his personal investment.