Ratford Motors, which in 2020 was acquired by the English Formula 1 world champion Jenson Button, went bankrupt that week. The hope is still to save the company.
Formula 1 champion Jenson Button's car brand, Radford Motors, faces an uncertain future after filing for bankruptcy. The company, founded in 2020 by Button, TV host Ant Anstead and other partners, has filed for Chapter 11 reorganization in the United States.
Radford Motors, known for its Lotus-based Type 62-2 sports car, announced its plans to produce a limited run of the car in 2021.
The Type 62-2 is equipped with a 3.5-liter V6 engine that produces up to 600 horsepower. In 2023, Radford Motors even entered the Pikes Peak Hill Climb race with a racing version of the Type 62-2, which was subsequently put up for sale for $1 million.
Finest Coachbuilding Group LLC, Radford's parent company, filed for bankruptcy on October 10, 2024. According to a statement to Motor1 , the company confirmed that it is undergoing a restructuring to implement strategic changes and strengthen its foundation for the future.
It remains to be seen what the bankruptcy filing means for the production of the Type 62-2 and for the future of the Radford brand.
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However, the company has stated that it is committed to continuing operations and producing luxury sports cars. However, Radford Motors is far from the only car brand with an uncertain future.
In fact, the entire auto industry is reeling mightily these days. At the otherwise mighty Volkswagen, the finance director believes that the brand – has two – maybe three – years to turn the tide. Otherwise, a debt of a staggering 3,200 billion Danish kroner will close the entire group. Read more about it here .
However, far smaller brands have already succumbed. At the beginning of the year, it emerged that the small German car brand E.Go has now gone bankrupt for the second time. And Fisker Inc., headed by Danish Henrik Fisker, is well on its way in the same direction.
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