U.K.’s Lola Closes Up Shop

Lola Group Holdings Ltd., the British maker of racing cars for nearly 50 years, has halted all operations, Edmunds.com reports.

The iconic company's Lola Cars International and Lola Composites units had been under bankruptcy protection since May but were unable to attract a buyer or investor. The company laid off its remaining 41 employees last week.

Created in 1958, Lola has produced sports cars and also supplied racers for the Formula One, USAC, CART, LMP1/LMP2 and American Le Mans racing series.