Bob Bondurant School of High Performance Driving announced it is now accepting investment and purchase inquiries as it nears the completion of its restructuring program following its Chapter 11 bankruptcy filing. Officials with the school, which has remained in continuous operation since the filing in October, will accept offers from investors and purchasers through Feb. 28.
The school filed a voluntary petition under Chapter 11 in the United States Bankruptcy Court for the District of Arizona in October 2018. In November 2018, the court appointed Tim Shaffer of Clotho Corporate Recovery LLC as the school’s chief restructuring officer (CRO). Pat and Bob Bondurant remain the school’s owners. All offers received during this time period will be considered alongside those that have already been submitted, the business said.
“The team’s diligent efforts to overcome some difficult challenges and keep the school performing at its historical high standards have proven very successful,” said Shaffer. “A great deal of the credit for our success during our restructuring is due to our loyal and dedicated staff, as well as our students who continue to believe in the high quality of instruction provided by Bob Bondurant and the School.”
On Feb. 14, 2019, the Bob Bondurant School of High Performance Driving celebrated its 51st anniversary, making it one of the longest continuously running racing instruction schools in North America. It currently offers high performance, road racing and driver instruction for teens, military and first responders.
“This is an incredible opportunity and the chance to be a part of the future of one of the most respected brands in the industry,” said Shaffer. “Bob Bondurant enjoyed an incredibly successful racing career, which he parlayed into one of the world’s premier driver-trainer schools. We look forward to talking with potential investors and purchasers who can take the School to the next level.”
Interested investors should contact Tim Shaffer at [email protected]