School filed for bankruptcy protection in October
The Bob Bondurant School of High Performance Driving is accepting investment and purchase inquiries as its Chapter 11 bankruptcy filing process nears completion, the facility said Monday in a news release.
“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,” Tim Shaffer, the school’s chief restructuring officer, was quoted in the release.
“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 parties have until February 28 to submit inquiries.
Should the school emerge from bankruptcy in the coming months, it would be slightly ahead of the schedule Shaffer set for the school when he spoke with the ClassicCars.com Journal in December. At the time, he said the facility should be done with the process by midsummer at the latest.
“There aren’t that many problems that need to be resolved that would take that much time,” he said, adding that the school was not in that bad of financial shape. “If I’m not out of Chapter 11 by the end of June or the Fourth of July, I’m not doing a good job.”
In the same interview, Shaffer said there had been a “high level of interest from people wanting to get involved with the future of the school.”
Bondurant founded the school in California 51 years ago. The current Chandler, Arizona campus — which is the largest purpose-built driving school in the world — opened in 1990.
The school was briefly closed in November after now-former employees walked out, claiming they had experienced a hostile work environment at the hands of Bondurant’s wife, Pat. The couple has denied the claims.