Insolvency chiefs from Bridge Business Recovery have been appointed as
liquidators of motor racing outfit A1 GP’s parent company.
However the firm says it is extremely confident of finding a buyer for the A1
Grand Prix series by selling the assets as a whole package.
Tony Murphy and James Bradney have started selling the assets of the
company’s operation ideally with a view of the buyer re-launching the A1 Grand
Prix series in some form in the near future.
Assets include Lola racing cars, parts and spares, and also the intellectual
property Rights to the A1 Grand Prix series logos and brands.
Murphy said:”Although it is still early days we are highly confident that a
buyer can be found for the company’s assets and with it the prospect of the A1
Grand Prix series returning to our TV screens at some point in the near future.
A1 Grand Prix collapsed last summer following a winding Up order being made
in the High Court against the operating company, which was subsequently placed
into administration in October.
Launched in 2004, millions of people watched nations pit their driving skills
against each other in identical Lola cars over a series of 12 weekends.
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Out of a dozen sectors profiled only oil and gas and manufacturing were deemed to have a higher than normal risk of insolvency
Colin envisions how the Austin Reed administration is unfolding behind closed doors
Peter Saville, Kevin Coates and Catherine Williamson, of AlixPartners, appointed joint administrators of Austin Reed