Wed, 20 May 2015 | BUSINESS SALE
The second auction of the assets of F1 Team Caterham is set to take place today (20 May) with a range of interesting equipment and machinery up for sale.
Caterham Sports Ltd, located in Leafield, Oxfordshire, entered administration in October 2014.
Administrators Smith & Wilson handled the situation and are now organising the sale of the F1 car manufacturer's assets through an auction house. This is the second auction of the group's assets with the first taking place in April, however, this second auction is likely to include some of the firm's more unique assets, such as its machinery and equipment used to build some of the highest performance cars in the world.
Included in today's auction are equipment from the race bay and the company's work and office equipment.
There is one further auction advertised to be taking place on 3 and 4 June this year which is set to include race car archives, merchandise and branded clothing and memorabilia from Caterham.
The administrators had originally been hopeful of finding a buyer for the team, but this didn't end up being the case. As the first auction loomed, administrator Finbarr O'Connell spoke to BBC Radio Oxford: “I’m not going to say there’s an absolute deadline on being able to make the first race. Teams can miss two races and I’m keeping the ‘for sale’ signs up for as long as there are interested parties out there.”
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