Radford Motors faces bankruptcy amid financial turmoil

Radford Motors is a company founded by Formula 1 World Champion Jenson Button and television presenter Ant Anstead. The company has just declared bankruptcy—three years after presenting the 62-2 model, which was supposed to be its main product.

This is a limited-series sports race car based on the Lotus chassis, inspired by the Lotus Type 62 from the late '60s and early '70s. The modern version was supposed to be offered in three versions: street, intermediate, and extremely racing.

According to the plan, only 62 units were to be built. It is known that at least one of them was delivered to a customer. The future of the remaining ones, however, is very uncertain.

The bankruptcy proceedings are the result of legal complaints against Anstead and the company's Chief Financial Officer, Dan Bednarski. Both executives allegedly failed to repay debts and misused company finances.

The case is currently under investigation and does not necessarily have to end with the closure of operations. "Radford Motors is going through a Chapter 11 Business restructure that will be implementing strategic changes to strengthen our foundation for the future. During this process, it's expected that certain ownership transitions will occur, which is an important step in our evolution. Current Finest Coachbuilding Group LLC owners include Pastor Velasco, Roger Behle, Ant Anstead, Jenson Button, and Izzy Roa. These changes are part of our broader strategy to clear the way for new investment and underscore our commitment to continued and sustained growth. We are excited about the road ahead and remain focused on continuing business as usual with renewed energy and purpose," reads the company's statement.