Motor racing: Marussia F1 team closes with staff made redundant

SAO PAULO (REUTERS) - The Marussia Formula One team has ceased trading with about 200 staff made redundant, administrators said in a statement on Friday.

Administrators FRP Advisory said the team had "no sustainable operational or financial structure in place to maintain the Group as a going concern.

"The joint administrators have now ceased trading Marussia F1 Team and unfortunately have had to make the remaining staff redundant," it added.

Marussia went into administration last month and missed last weekend's US Grand Prix in Texas and this week's in Brazil. Fellow strugglers Caterham are also in administration and seeking a buyer.