News Details
Marussia ceases trading
Administrators have announced that the Marussia team has ceased trading, with the loss of 200 jobs.Despite interest in the team from various potential investors, a 12:00 (GMT) deadline passed with no funds being transferred, thereby leaving administrators FRP Advisory with no option but to wind up the Banbury outfit.'While the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment,' said Geoff Rowley, joint administrator, and partner at FRP Advisory, in a statement'The group was put into administration last month following a shortfall in on-going funding and the administration process provided a moratorium...
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