Schnitzer Motorsport enters liquidation as closure moves closer
Schnitzer Motorsport has been put into liquidation and is planning to sell all team equipment by the end of February.
The legendary team was dropped from BMW’s factory roster late last year, ending a relationship stretching back more than 50 years.
That led to question marks over whether the team would be able to continue going forwards, with the move to enter liquidation meaning Schnitzer is now a step closer to closing its doors.
“I still find it difficult to process the company closure,” said team manager Herbert Schnitzer Jr to gt-place.com.
“We will start selling our entire team equipment. I want to give our employees a right of first refusal, otherwise we will be collecting a list of interested parties that we will contact as soon as our inventory list and rating is completed – target end of February.”
While the liquidation process is ongoing, Schnitzer Jr. is not ruling out securing a buyer for the company that could continue its operation.
“We are already in the middle of the liquidation process, yet I hope every day that a buyer walks through the door, who takes over the employees and wants to operate as Schnitzer Motorsport – and has the means to do so,” said Schnitzer Jr.
“It is clear to me that this, in these times marked by Corona, is almost impossible, but hope dies last.
“I grew up with the thought ‘you only lose when you give up’. Like everyone in my family, the inevitable closure of the company breaks my heart every day a bit more.”