The Bondurant School of High Performance Driving, which traces its roots to the world's first school for race car drivers, this month filed for Chapter 11 bankruptcy protection in Chandler, Ariz.
Court filings listed total debts at between $1 million and $10 million, with between 50 and 99 creditors. The organization vowed to stay in business and reorganize.
"In a difficult yet important step toward becoming a stronger company," read a statement from the school posted to its social media page, "[w]e 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."
