NASCAR team lays off 'most staff' amid bankruptcy woes

A NASCAR team has laid off ‘most’ of their staff after filing for bankruptcy protection earlier this year.

According to the New York Times, 11 NASCAR racing teams have closed, merged or filed for bankruptcy since 2016.

READ MORE: Controversial NASCAR Xfinity driver dropped by team

In 2018 Furniture Row Racing shut down, followed by Leavine Family Racing who closed after the 2020 season.

Most recently, team owners Tony Stewart and Gene Haas of Stewart-Haas Racing will close down their operations and sell their assets.

Could another NASCAR team fold?

NASCAR Xfinity Series racing team, JD Motorsports, has reportedly laid off most of their staff, after recently filing for bankruptcy protection.

The team filed for Chapter 11 bankruptcy reorganization in April, where the debtor listed over $422,000 in unsecured claims on its petition.

JD Motorsports have competed in NASCAR’s Xfinity Series since 1983, and is owned and operated by Johnny Davies, the team earning a total of four Top 5 and 29 Top 10 finishes during their time in the sport.

The team also made history by hiring NASCAR’s first female crew chief Cindey Woosley in 2008.

READ MORE: Danica Patrick claims 'no liberals or Democrats in NASCAR'

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However, at the most recent race at Pocono Raceway, JD Motorsports withdrew its No. 6 Chevrolet Camaro driven by Garrett Smithle, a decision team members were unaware of until the official withdrawal appeared on the entry list.

JD Motorsports’ No.4 car did compete however, with Thomas Annunziata finishing in 28th place, and the team reportedly plan to race at the next event, the Pennzoil 250 at the Indianapolis Motor Speedway.

READ MORE: Reason for NASCAR driver being REMOVED from seat revealed

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