It's been quite some time since we've heard much about the Caparo T1, the UK-built street legal track toy that's essentially the closest thing to an F1 car. Sticker price is over $400,000 and is powered by a 3.5-liter V8 with a total of 575 hp, quite an impressive output considering it's a fairly small engine. The car weighed only around 1,000 lbs. (it was developed by a former team of McLaren engineers). Anyway, according to The Guardian and Motor Authority, Caparo parent's company, Caparo Group, is nearly on the verge of bankruptcy.

But that's not the worst of it. Its chairman, Angad Paul, committed suicide last week after jumping from his London penthouse. Back in 2014 we learned that Caparo was working on an even more powerful version of the T1, called the T1 Evolution. Its price tag? Around $1.18 million.

Output was increased to over 700 ponies and updates to its suspension, chassis, and exterior were expected. That's all likely a thing of the past now. Caparo is actually only a part of Caparo Group, a major steel company with various other interests. The T1 itself also hasn't been without controversy, mainly when one of the car's engines caught on fire at 150 mph during an episode of Fifth Gear back in 2007. So what's going to happen next? No official word just yet but things aren't looking good.