Radford Motors unveiled its inaugural vehicle in 2021, the charming Lotus-based Type 62-2. TV personality Ant Anstead and ex-F1 champion Jenson Button, along with other partners, resurrected the legendary Radford name with intentions to produce a limited run of the Type 62-2 sports car. However, these plans now seem uncertain.
Earlier this month, Finest Coachbuilding Group LLC—Radford's parent company—filed for Chapter 11 bankruptcy. The filings were made on October 10 in the US Bankruptcy Court in Delaware, and the company confirmed the Chapter 11 filing to Motor1 in a statement.
"Radford Motors is undergoing a Chapter 11 business restructuring aimed at implementing strategic changes to fortify our foundation for the future. This process will likely involve certain ownership transitions, a crucial step in our evolution. Current owners of Finest Coachbuilding Group LLC include Pastor Velasco, Roger Behle, Ant Anstead, Jenson Button, and Izzy Roa. These changes are integral to our broader strategy to pave the way for new investments and reinforce our dedication to sustained growth. We are optimistic about the future and remain committed to business as usual with renewed vigor and purpose." - Dan Bednarski, CFO/COO of Finest Coachbuilding Group LLC
Radford plans to secure new funding under the restructuring and streamline operations, but remains steadfast in its ambition to build luxury sports cars. This development comes just three years after the company's inception. Radford introduced the Type 62-2 project in late 2021—an Evora-based sports car equipped with a 3.5-liter V-6 engine producing up to 600 horsepower. The company also participated in the 2023 Pikes Peak hill climb, offering its Type 62-2 race car for sale post-event at a price of $1 million.
It remains unclear how this news will impact the production of the Type 62-2 sports car and the future of the Radford brand. We will continue to provide updates as the story progresses.
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