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Manor F1: Team fold after administrator fails to find buyer

The Manor team have collapsed after administrators failed to find a buyer for the stricken business. Manor's operating company Just Racing Services has been in administration since 6 January, and FRP Advisory has been unable to find a buyer. Just Racing ceased trading on Friday, effectively ending the Manor team. The staff were sent home on Friday and told they will be made redundant by the close of business on Tuesday after the payment of January salaries. FRP said there was "no sustainable operational or financial structure in place to maintain the group as a going concern". Joint administrator Geoff Rowley added the administration process "provided a moratorium" in...
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9mo ago from BBC.co.uk 0
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