Lola Cars officially shuts down operations

After filing for bankruptcy last May and having no buyer to take over its operations, Lola Cars International has officially closed down last October 5.

The 54 year old iconic British race car builder is the one responsible for building most of the race car chassis, from single-seater F3 and F2 cars to the current LMP2 Le Mans race car and even produced one for the infamous Ford GT40.

Reports say that Administrators CCW Recovery Solutions, the company that took over Lola since its announcement of bankruptcy five months ago has announced that remaining employees at the Lola workshop in Huntingdon, England have been laid off.

"At the end of September, having not received an acceptable offer for the business as a going concern, we considered whether or not we should continue trading," said a statement provided by administrators CCW Recovery Solutions.

No news yet of the things that will be happening to the existing team campaigns of Lola Cars in the FIA World Endurance Championships as well as the American and European Le Mans Series. The Lola name and its intellectual property though will still be owned by its parent company, the Lola Group Holdings.