Radford Motors, the low-volume car maker co-founded by 2009 F1 champion Jenson Button and TV presenter Ant Anstead, has filed for bankruptcy three years after announcing its intention to build the Type 62-2, a retro-styled sports car based on Lotus underpinnings. The bankruptcy proceedings come amid apparent legal complaints against Anstead and the company’s chief financial officer, Dan Bednarski.
The company is a revival of Harold Radford & Co, a firm initially established to sell Rolls-Royces and Bentleys, before moving over to coachbuilding and modification, notably producing plenty of kitted-out versions of the original Mini.
Radford Type 62-2 – side
In 2021, the reborn company, fronted by Button, Anstead and several others, debuted the Type 62-2. Based on Lotus Exige underpinnings, its styling is a throwback to the Lotus Type 62 racer of the late 1960s and early ’70s.
Available in three roadgoing guises and a track-only Track Edition – the latter of which won its class at last year’s Pikes Peak Hill Climb – just 62 units of the car were planned to be built, and at least one customer car is known to have been delivered, but whether the rest will happen is now up in the air.
Radford Type 62-2 Pikes Peak – image © Larry Chen
The bankruptcy proceeding was filed with courts in the US state of Delaware earlier this month. Much as we saw with Recaro’s bankruptcy earlier this year, the filing doesn’t necessarily mean the company is done for. A statement provided to Motor1 by Bednarski says:
“Radford Motors is going through a Chapter 11 Business restructure that will be implementing strategic changes to strengthen our foundation for the future. During this process, it’s expected that certain ownership transitions will occur, which is an important step in our evolution… We are excited about the road ahead and remain focused on continuing business as usual with renewed energy and purpose.”
The statement also hints that, as part of the restructuring, Radford will seek new funding.
Radford Type 62-2 – rear
Amid these bankruptcy proceedings come two apparent legal complaints against Anstead and Bednarski, both from other individuals involved in the company, according to People Magazine. One, it claims, comes from the pair’s business partner Pat Velasco, and alleges that they owed him $2 million. The other apparently comes from Radford co-owner Roger N. Behle Jr., who alleges that Anstead and Bednarski misused the company’s finances.
Bednarski, in a separate statement to Motor1, said that “[a] judge has cited insufficient evidence for these claims of mismanagement and fraud, repeatedly.”
Anstead himself has given a statement to People that says: “Radford is implementing strategic organisational enhancements while maintaining full operational continuity. I remain fully committed to advancing Radford’s vision and growth.”
