Bankruptcy confirmed for Engström Motorsport

Former STCC Honda team Engström Motorsport has gone bankrupt after being close to it for a long period of time.
”I have taken a tough decision and the uphill we’ve had for the past time has been too long and steep. We have not been able to control the circumstances and that has taken us where we are now,” said Engström to Dalademokraten.

The Swedish National Tax Agency required Engström Motorsport to pay outstanding debts in September last year but gave the company a suspension until May 5 this year, a deadline which has passed without the debts being payed. The agency stated:

”It has emerged that the debtor has no assets to full payment of the foreclosure claim. Engström Motorsport AB shall therefore be considered to be insolvent.”

Engström Motorsport has raced in the STCC since 1999, with third overall in the drivers’ championship twice as best result, with Chrysler for two years and Honda for 12 seasons.

”It was a tough and heavy decision to carry when I went in to the District Court. I have gone onboard with several programmes that haven’t been that good, to put it simply,” said Engström.

Engström states that the he is working on selling his S2000/NGTC specification Honda Civic to potential buyers in China.