Lola Shuts Down After Declaring Bankruptcy

Bankruptcy

Legendary sportscar manufacturer and racing chassis builder forced to shut its doors after failing to find a new buyer.

Times are bad for small automakers in Europe. Gumpert, Melkus, Artega and De Tomaso all recently went bankrupt, and now they're unfortunately in good company. Only this time it's not so much a sportscar manufacturer that has bitten the dust but a racecar builder. The company in question is Lola Cars, a British outfit that specializes in racecar chassis. It's built cars for a variety of Formula One teams, as well as numerous F2, F3, AutoGP and IndyCar squads.

Currently it builds (or was until now building) Le Mans prototypes for Lotus and the SP/300.R for Caterham. Lola officially entered bankruptcy proceedings in May while officials attempted to find a new buyer, but with none emerging, the British company looks poised to close its doors and sell off its assets. The name and patents will remain with parent company Lola Group Holdings, while the Lola Composites division may yet find a buyer, with two parties reportedly expressing interest but as of yet have made no official offers.

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With Lotus trimming its activities, the LMP2 program is likely to be of less concern than the Caterham, which will likely need to make alternate arrangements or else lose the only product it offers that's not based on the old Lotus Seven.

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