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Thread: Bondurant Racing

  1. #1
    Superkart Pilot
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    Bondurant Racing

    The Bob Bondurant School of High Performance Racing has filed for Chapter 11 bankruptcy. Bummer - that was on my bucket list.

  2. #2
    WMD Member eracerhead's Avatar
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    That sucks. I learned a lot from one of his books in another lifetime, as a teenager with a new license...
    ...because simcar

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  3. #3
    Moderator Mahjik's Avatar
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    Even though I've been doing racing for years, I've always wanted to attend their school and was thinking about it next year. Granted, this doesn't mean they are closing immediate, but I do hope they are able to continue operations and pick up some external funding.
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  4. #4
    Moderator Mahjik's Avatar
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    The Bob Bondurant School of High Performance Driving filed for Chapter 11 bankruptcy protection Tuesday.

    The Chandler-based school, started in 1968 by race-car driver Bondurant, owes creditors between $1 million and $10 million, according to the court filing.

    Bondurant once raced for the Shelby American, Ferrari and Eagle teams.

    A statement from the driving school called the bankruptcy "a difficult yet important step towards becoming a stronger company."

    The company also said it will continue operating and plans to reorganize through bankruptcy.

    Chapter 11 bankruptcy allows companies to negotiate their debt with creditors without having to sell off assets.

    Bondurant has between 50 and 99 creditors, according to its bankruptcy filing.

    Everyone from race-car drivers to everyday commuters can take classes at the school, which is on a large parcel of land near Wild Horse Hotel & Casino.

    The Bondurant school, which has several tracks, is also the official training site for Dodge SRT vehicles, including the Hellcat.

    "Our plan is to emerge from this process as a stronger company and continue to drive this company into the next 50 years," the company said in its statement.
    ....
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  5. #5
    WMD Member Christiaan van Beilen's Avatar
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    Quote Originally Posted by Mahjik View Post
    ....
    Yeah, it almost seems as if bankruptcy is a new way of restructuring nowadays. How many companies haven't tried to go bankrupt and than restructure in order to go continue the business. My guess is that most of the time they need to get rid of employees that have a permanent contract or that they otherwise simply can't throw out the door, which leaves this last ditch measure.

    Anyway, sad to see another business go upside down like this.
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