The Bob Bondurant School of High Performance Driving closed its doors Monday, slightly more than a month after the school filed for Chapter 11 bankruptcy protection.
The news was confirmed by a spokesman for the school. A call to the school’s president and CEO, Patricia Bondurant, was not immediately returned.
There was no immediate word on why the decision was made to close the school. The spokesman said more details would likely be released in the coming days.
Bondurant said in a statement at the time of the bankruptcy filing, “In a difficult yet important step towards becoming a stronger company, Bob Bondurant School of High Performance Driving, Inc. filed a voluntary petition under Chapter 11 in the United States Bankruptcy Court for the District of Arizona on October 2, 2018."
Court documents showed that the school owed between $1 million and $10 million to more than 50 but fewer than 100 creditors. Bondurant reportedly had between $1 million and $10 million in assets.
Chapter 11 bankruptcy allows a business to restructure and reorganize its debts. Companies typically remain in operation under Chapter 11 and Bondurant said it planned to follow suit when it filed.
“We will continue operating and serving our students and corporate groups as usual while we develop new business relationships to ensure the vitality of the company in the future," the October statement read.