Hard Times Hit Lola

Lola Cars, the world’s oldest racing car constructor announced in mid-May that it was entering financial administration due to cash-flow problems caused by ongoing global economic conditions. The move includes both Lola Cars International Limited and Lola Composites Limited, and a prepared statement said it “allows the board to continue its discussions with possible investors and prospective purchasers with a view to securing the best outcome for the staff, creditors and customers of both businesses.”

During its 55 years of continuing operation, Lola has produced winning cars for virtually every category of racing around the world, with its major successes coming in sports cars, American Indycar racing and Formula 5000. Lola’s iconic T70 sports car won the 1966 Can-Am championship in John Surtees’ hands, and later Lolas and Lola-based cars dominated the “new era” Can-Am between 1977 and 1986. Lolas have also scored numerous LMP2 class wins at Le Mans and in the various Le Mans Series in recent years. A dozen Indycar National Championships and three Indy 500 wins highlight the company’s efforts in that arena, while Lolas became the car to have if one wanted to win in F5000 in the USA, UK or the Antipodes during that series’ lifetime.