Bondurant School hires restructuring specialist

Bondurant School hires restructuring specialist

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Bondurant School hires restructuring specialist

After announcing its closure earlier this month, the Bob Bondurant School of High Performance Driving has reopened after a U.S. bankruptcy court approved the hiring of a chief restructuring specialist to help the school reorganize.

The U.S. Bankruptcy Court for the District of Arizona approved the appointment of Timothy Shaffer to “assume management and oversight of the school’s business operations,” according to the release. Shaffer will also work with parties interested in investing in or acquiring the school and come up with a reorganization plan.

“Pat and Bob Bondurant are equally committed to helping the school get back on track,” Shaffer said in a news release. “We’ve already begun working on restructuring initiatives that will help stabilize the school’s financial position. Our collective goal is to return the company to normal operations and ensure the school is a part of our local and national racing communities for many years to come.”

Shaffer told The Drive that the school re-opened last week.

The school confirmed that it will host the third annual Mazda Road to Indy USF2000 $200K Scholarship as scheduled at Wild Horse Pass Motorsports Park outside Phoenix on Dec. 8-9.

The school – founded by Bob Bondurant in California before moving to Arizona in the 1980s — filed for Chapter 11 bankruptcy Oct. 2 in Chandler, Arizona. The Bondurant track was the largest purpose-built driver training facility in the world, used for performance enthusiasts and to train student drivers and police personnel. It was also the official high performance driving school for Dodge/SRT.

At the heart of the facility is a 3-mile, 26 turn, multi-configuration track that was designed by Bob Bondurant. The school maintained over 200 race-prepared vehicles, sedans, SUVs and open wheel cars.

The school announced on its website on Oct. 3 that it had filed for bankruptcy protection, in order to “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.”

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