Skip Barber Racing School files for bankruptcy
Skip Barber Racing School files for Chapter 11 bankruptcy, school will still be in operation
One of the world's top racing schools has filed for bankruptcy. The Skip Barber Racing School racked up estimated liabilities of between $10 million to $50 million, according to a report by Trackside Online.
At the moment, the school declared their assets at an estimates $5.3 million. It includes $1,489,500 worth of school cars, as well as $1.6 million in parts. The school values their own brand at $2 million, along with their training techniques.
Skip Barber Racing School owes the most to Lime Rock Park at $ 1.225 million. Ironically, Skip Barber himself owns the famed race track but has since sold his controlling assets back in 1999. The school also owes rent to several race tracks in the US.
Skip Barber Racing School has an outstanding bill of $239,617.19 to Road Atlanta, $169,568 to Monterey County, California for rent in Laguna Seca, $112,000 to Mid-Ohio, $105,983 to Palm Beach International Raceway, $56,623.77 to Virginia International Raceway, and $29,600 to Willow Springs Raceway. Besides the race tracks, the school also owes $249,000 to Peoples Credit Card, and $107,770.51 to Penske Truck Leasing, among other creditors. Skip Barber Racing School has specifically filed for Chapter 11 to allow the business to operate while they pay off creditors.
The Skip Barber Racing School was opened in 1975 by Barber after his retirement from professional motorsport. Notable alumni from SBRS include IndyCar champions Tony Kanaan and Helio Castroneves, as well as former Formula 1 driver Juan Pablo Montoya. Many NASCAR and endurance racers also graduated from the school.
Related Posts
2026 Makabayan Endurance Race Challenge Series Round 1 postponed
Makabayan Endurance Race Challenge Series organizers postpone 2026 4 Hour Kagitingan Cup to a later date
2026 Toyota GR Philippine Cup season put on hold due to fuel crisis
Toyota Motor Philippines announces TGR Philippine Cup events on hold until further notice
Fuel Crisis: AAP-sanctioned motorsport events in PH temporarily suspended
Motorsport events in PH sanctioned by AAP suspended after BBM declares state of national energy emergency
Not Kidding: BMW is racing an M3 Touring at 24 Hours of Nurburgring
After an overwhelming response from fans, BMW will indeed race an M3 Touring at Nurburgring 24H
F1 cancels 2026 Bahrain & Saudi Arabian GPs due to Middle East tensions
After the 2026 Japanese Grand Prix on March 29, the next race will be the Miami Grand Prix on May 4
Report: BYD looking to make F1 bid, enter motorsports?
BYD reportedly wants to boost its brand appeal by entering motorsports