- Caterham
Caterham makes 230 staff redundant
Caterham has made 230 staff redundant despite plans to race at next weekend's Abu Dhabi Grand Prix.
The team went into administration last month and has been battling for survival ever since. The staff were last paid at the end of September and the majority have asked to be made redundant in order to start a formal claims process.
However, the administrators said the redundancies had not altered the team's plan to go racing in Abu Dhabi after it raised £1.92m of a target of £2.35m to take part in the final round of the championship.
"We are going to Abu Dhabi, racing and talking to potential buyers with meetings already arranged out there," joint administrator Finbarr O'Connell told Reuters.
"The second track is that at the same time the claims forms will be up and running. A best outcome could be for staff to get redundancy, arrears of pay and then if someone comes along (and buys the team) they would get paid again,"
The team is provisionally entered into next year's championship and by racing in Abu Dhabi will keep its chances of being on the 2015 grid alive. However, it still needs to find a buyer willing to take on the team in order to prevent being wound up.
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