Radford Motors, a company founded by 2009 Formula 1 champion Jenson Button and well-known mechanic Ant Anstead, announced its plans in 2021 to produce a supercar inspired by the iconic Lotus Type 62. The vehicle, named the Type 62-2, was intended as a low-production, retro-styled supercar built on a Lotus Exige chassis. This car aimed to pay homage to the original Lotus Type 62, a race car from the late 1960s and early 1970s. However, as of 2024, Radford Motors has filed for Chapter 11 bankruptcy, casting doubt on the continuation of the Type 62-2 project.
The bankruptcy filing, made by Radford’s parent company, Finest Coachbuilding Group LLC, doesn’t necessarily mark the end for Radford Motors. Chapter 11 allows companies to restructure debt, potentially paving the way for Radford to recover financially. According to a statement from Radford, this restructuring process is intended to attract new investment and “strengthen business for future growth.” This indicates that the company may seek additional funding to continue producing the Type 62-2 or future models if the bankruptcy process is successful.
Dan Bednarski, the CFO of Radford Motors, addressed the filing, stating that the company is making “strategic changes” to position itself better for the future. He noted that ownership changes are likely to occur as part of this restructuring, which is seen as a critical move toward Radford’s long-term growth. Despite the financial challenges, Bednarski expressed optimism, suggesting that these adjustments will help the company focus on sustained business growth. He assured that Radford remains committed to its business goals with “renewed energy and purpose.”
Complicating matters further are two legal complaints involving Radford’s founders, Ant Anstead and Dan Bednarski. A business partner filed a lawsuit in March, alleging that Anstead and Bednarski owed him $2 million. A second complaint from a co-owner in July claimed that the two founders misused funds, including a $100,000 deposit, for unrelated expenses such as insurance. These legal challenges add an additional layer of difficulty to Radford’s financial troubles, likely impacting its restructuring efforts.
As Radford Motors navigates bankruptcy and legal issues, its future remains uncertain. The brand had set out to bring a unique, retro-inspired vehicle to market with strong ties to Lotus’s racing heritage, but whether the company can overcome its current setbacks to realize that vision is unclear. With potential new funding on the horizon and strategic restructuring underway, Radford may still have a path forward, though it will depend on the outcome of both the bankruptcy process and the ongoing legal disputes surrounding its founders.