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Caterham enters administration
The administrators have taken full management control of F1 team Caterham who are desperately seeking a new owner.Insolvency specialists Smith & Williamson closed the team factory in Leafield, Oxfordshire, on Thursday with administrator Finnbarr O'Connell taking over the reins.The firm had already been working on behalf of the creditors of Caterham Sports Ltd, a company which makes and supplies cars to 1MRT, the entity which owns the licence to race in Formula One.O'Connell said on Friday: "This is a very cash-strapped team."I have been approached by people who are interested, so my immediate position is to further the negotiations with them as quickly as possible in order that...
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10y ago from SkySports.com
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