Pescarolo Team went into liquidation on Tuesday, but sportscar legend Henri Pescarolo does not exclude continuing as a team owner.
His company was liquidated by a French court after a six-month period during which it was protected under law from its creditors in a procedure similar to Chapter 11 in the U.S. The team had to present a survival plan to a commercial court in Le Mans at the end of that period but Pescarolo chose not to.
“It is not the right time to find new sponsors or investors. I had no real solution to present to the court. This means that Pescarolo Team doesn’t exist any more as a company, but if I want to, I can continue. I still own the workshops and all the mechanics are available,” Pescarolo was quoted as saying by Autosport.
Pescarolo Team was the most successful privateer at Le Mans during the 2000s, when it was known as Pescarolo Sport. However, last year the team withdrew from the World Endurance Championship after a disastrous Le Mans 24 Hours.
Henri Pescarolo said the team could work with another entrant at this year’s Le Mans 24 Hours. “It would not be under my name, but I would be involved and they would use my mechanics and workshop,” he said.