2012 Lola LMP1 picture : Lola Vehicles
If ever there had been a race car constructor that was also major to fail, it was Lola. Throughout its storied background, the brand competed in almost each form of racing, from Can Am through CART and even Formula A single. In later many years, it branched out into defense and aerospace manufacturing as well.
When Lola declared bankruptcy last May well, a victim of the international economic downturn, no 1 appeared as well concerned. Soon after all, it was Lola that was up for grabs, and surely there would be customers lined up to consider in excess of its operations. As Speed Tv ( by means of Autoblog) reports, that sadly wasnt the case, and Lola has now closed its doors, laying off its remaining workforce.
In the words of the appointed administrators, CCW Recovery Remedies, In the course of the very first week of October we concluded that a going concern sale of the small business was not going to be achievable, and the company ceased to trade on Friday, October 5, which regrettably led to the redundancy of the remaining workers working in the enterprise.
All thats left for Lola Cars and trucks Worldwide is the sale of its assets. If theres any excellent news to be had, its that the Lola title and intellectual residence continues to be owned by Lola Group Holdings, and is not viewed as element of the companys bankruptcy. The very same is real for Lola Composites, which also filed bankruptcy in May well but remains for sale.
As Lola provided vehicles to the FIA Globe Endurance Championship, American Le Mans and Euro Le Mans series as just lately as this yr, its unclear exactly where existing prospects will be in a position to get support or spare parts.
Via: Race Car Builder Lola Closes Its Doors
