Skip Barber Racing School files for bankruptcy

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Skip Barber Racing School files for bankruptcy
David Malsher
By: David Malsher
May 23, 2017, 5:02 PM

The renowned Skip Barber Racing School LLC has filed for Chapter 11 Bankruptcy with the United States Bankruptcy Court for the Southern District Of New York.

Trackside Online is reporting that the bankruptcy filing list assets of $5,284,500.00 and estimated liabilities of between $10m and $50m.

Included among the 20 largest creditors are Lime Rock Park ($1,225,000), Peoples Credit Card ($249,000), Road Atlanta ($239,617), County of Monterey ($169,568), Green Savoree-Mid Ohio LLC ($112,000), Penske Truck Leasing ($107,770.51), and IndyCar (disputed $66,000).

SBRS alumni since its inception in 1975 include current IndyCar stars Ryan Hunter-Reay, Josef Newgarden, Spencer Pigot, Conor Daly, Tony Kanaan and Helio Castroneves as well as previous Indy car aces such as Michael Andretti, Bryan Herta, Danny Sullivan, Juan Pablo Montoya, and Kenny Brack.

Other notable stars include NASCAR legend Jeff Gordon, AJ Allmendinger, Joey Logano, and sportscar stars Chip Robinson, Jon Fogarty, Jonathan Bomarito and Juan Manuel Fangio II.

Chapter 11 is filed to protect an entity from creditors, allowing an attempt to reorganize the business.

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Series General
Author David Malsher
Article type Breaking news