Team Manor externalized, which seriously jeopardizes her participation in the season of 2017, according to AUTOSPORT.
On Friday morning employees of the stables was collected at the base in Banbury, where they were informed about the failure in the search for a new investor. Instead, the company FRP Advisory LLP took under the administrative control of Just Racing Services Ltd, which was engaged in the operating activities of the Manor.
The external Manager Jeff Rowley said that no layoffs in the team is not yet in sight, but the time to solve the situation to start the Australian Grand Prix in March, very little.
“After the change of ownership in 2015, the team has made significant progress, culminating in a finish in points the previous season. But the situation is such that teams always need a big investment, said in an official statement, Rowley. In the past few months the management have worked tirelessly to attract new investors to ensure the team’s long-term future. But, unfortunately, it failed to do in the allotted time.
Thus, they have no choice but to enter JRSL under external management.
Currently, the administrators evaluate the options.”
As for the chances of Manor to speak in Melbourne, Rowley said, “the Participation of the team will depend on the results of the external control and negotiation with stakeholders. But the possibilities are really limited.
No reduction of personnel after entering JRSL under external management was not. All employees have received salary for December in full.
However, the future of the staff will depend on whether found during this short period new investors. Administrators will monitor the current financial situation”.
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