Perhaps that was the case with e.g. vintage sports cars from the 50s and 60s. But I don't think the British manufacturing industry has been doing well ever since. I would love to be wrong, though.
I'll bet you're thinking of British Leyland, which behaved a bit like Boeing currently does. But much, much worse, and at every level.
British companies that are aware they can fail produce quality just fine. It's a fairly simple tale.