Bad news for car enthusiasts and manufacturers: the famous Nürburgring in Germany has entered bankruptcy. The management company for the ‘Ring announced the bankruptcy at a press conference in Germany today. It affects which includes the Nordschleife, the Grand Prix circuit, and various other attractions all managed by Nürburgring Automotive GmbH.
For now, the fate of the Nürburgring is unclear. The track probably won’t be shut down immediately, but courts will likely attempt to pick the operation apart to sell off certain assets. That will help repay creditors who are owed thousands of Euros by the ‘Ring’s management team.
In a press release on its German website, Nürburgring Automotive GmbH said that the jobs of all its employees would be safe for the time being. However, reports suggest that recently constructed elements like an amusement park and hotels are likely to be cut in order to save money. The Nordschleife toll road and race tracks themselves should be saved, as they are reportedly quite profitable.
At this point, it’s just a waiting game as courts and liquidators attempt to salvage and restructure Nürburgring Automotive GmbH. We’re hopeful the roads and tracks there can be saved, as they have become an important part of automotive history.