Lola files for bankruptcy protection

When many talk motorsports, the manufacturers' names that crop up are oftentimes the same ones that can be found patrolling the more tony districts of North American cities: Ferrari, Porsche, Lotus. And while those names are certainly prevalent players in the racing world, there's one that is at least as important as any of those: Lola.

Having produced chassis for everything from grand prix cars to CART to Le Mans, Lola's long racing heritage has earned it countless victories and podiums. However, that's all going to come to an end, as the iconic British brand has officially filed for bankruptcy protection. A simple issue of too little profit and too many expenses, the terminal end of Lola Cars will also result in the death of Lola Composites, a company with ties to the defence and aerospace industries.