Historic British coachbuilder Harold Radford was revived in 2021 as Radford, but the new U.S.-based company is already experiencing financial troubles.

The company, whose founders include television mechanic Ant Anstead and Formula 1 World Champion Jenson Button, filed for chapter 11 bankruptcy protection on Oct. 10.

In a statement to People, which first broke the news on Wednesday, Dan Bednarski, who serves as chief financial officer of Finest Coachbuilding Group, the private company that owns Radford, said the bankruptcy and ensuing debt restructure will enable a new ownership structure that will help the company gain new investment.

He also said the company will continue to operate as normal during the bankruptcy, which means continuing to build and deliver the various versions of the Lotus Type 62-2 coach-built by Radford sports car for customers. The sports car debuted in 2021 as a modern take on the Lotus Type 62 race car of the 1960s, using the donor chassis of the Lotus Evora.

In a separate statement to People, Anstead said he and Button are both committed to the company.

According to People, the bankruptcy comes after some fellow owners of Radford’s Finest Coachbuilding Group parent made allegations of mismanagement of company funds, and filed civil lawsuits earlier this year. However, in a statement to Motor1, Bednarski said a judge has cited insufficient evidence for the mismanagement allegations.