Bondurant Racing School Hopes to Mount a Comeback
There are lots of performance driving schools around the country, but one of the most famous is the Bondurant Racing School. Sadly, the driving school abruptly shut its doors last month after filing for Chapter 11 bankruptcy. Word is that the school closed shop in the middle of the day and sent students and instructors home.
Now, the company hopes to get things back on track under a restructuring plane. The Bondurant School has hired Timothy Shaffer as its Chief Restructuring Officer, and he will take over operations of the company. Pat and Bob Bondurant will continue as consultants during the restructuring. The school is seeking investors now, though it has substantial debts which will need to be settled.
The school was closed for five days or so last month. Classes and students interrupted during that period will be rescheduled. All deposits made to programs before the bankruptcy filing will be honored “to the extent that courts will allow.”