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Caterham enter administration
Administrators have taken full management control of Caterham, it was announced on Friday, as they seek new owners for the beleaguered outfit.Insolvency specialists Smith & Williamson closed the team factory in Leafield, Oxfordshire, on Thursday and it has now been confirmed that administrator Finbarr O'Connell has taken over the reins.The firm had already been working on behalf of the creditors of Caterham Sports Limited, the company which makes and supplies cars to 1MRT - the entity also known as Caterham F1 Team - which owns the licence to race in F1."This is a very cash-strapped team," O'Connell stressed on Friday. "I have been approached by people who are interested, so...
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9y ago from SkySports.com
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