News Details
Manor fails to find buyer, ceases trading
– Just Racing Services Limited, the operating company of the Manor Formula 1 team, has ceased trading, with staff, who will be paid to the end of the month, sent home, administrators have confirmed.Manor, following failed investment talks, fell into administration earlier this month, with owner Stephen Fitzpatrick admitting that losing 10th in the 2016 standings was a major blow to the outfit's future.FRP Advisory and Manor senior management continued to work toward a rescue deal, which resulted in talks with "a number of interested parties", and secured staff funding through January.However, sufficient investment for the upcoming Formula 1 season could not be sourced, and...
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7y ago from GPUpdate.net
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