Lola files for bankruptcy
Posted May 16th 2012 6:30PM
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Lola may not be a name recognized by the average consumer, but racing fans will know it well. The British concern has built and continues to build race cars that have spanned an enormous variety of series and disciplines since its founding in 1958, including (but not limited to) Formula One, Le Mans, CART and just about every formula feeder series you could think of, including Formula Two, Formula 3, Formula 3000, Formula 5000 and A1GP. Now, unfortunately, the company is filing for bankruptcy protection.
The reasons are pretty simple: too many expenses and not enough revenue, although tax credits it was due from the British government are also said to be partially to blame. As a result, the outfit responsible for – among numerous other accolades – five LMP2 titles at Le Mans since 2000 alone is entering financial administration as it seeks new investors.
