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Although new designs such as the Warrior Mark II were being produced and despite the fact that their lorry division was performing well by 1960, Guy faced seemingly insurmountable financial problems. The failure of the Wulfrunian was a commercial disaster.
By 1961, Guy had no choice but to enter receivership. Sir William Lyons, managing director of Jaguar, acquired the company for £800,000, transferring its assets to a new company, Guy Motors (Europe) Limited, which left all the liabilities with the now defunct Guy Motors Limited, the name eventually reverting to "Guy Motors Ltd" in 1966. Jaguar immediately set about rationalisation.
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Guy Motors was able to postpone closure, in part due to the success of its Big J range, because it was one of the few companies owned by British Leyland operating at a profit. Nevertheless, in 1981, Leyland decided to close the Fallings Park plant as part of a rationalisation drive and in August 1982, the doors were shut at the cost of 740 jobs. On 5 October, the factory was stripped clean and the contents auctioned. The closure of Guy Motors had a devastating impact on the factory's neighbouring areas, including Heath Town and Low Hill, where many of the company's workers lived, contributing to a rise in the already high unemployment in these areas.
