F1: Caterham files for bankruptcy

2014 has been quite cruel to Caterham so far. Despite numermous leadership changes, along with a change of ownership, the CT05 still seems slower as compared to their closest rivals. The combination of the sheer lack of pace and financial troubles have resulted in their closest rivals outdeveloping and outperforming the Leafield-based team. Things have gotten a lot worse for the team though, for its chassis division has reportedly filed for bankruptcy protection. The Caterham team that fields the cars in F1, incorporated as 1 Malaysia Racing Team, is a different division altogether from the factory that manufactures the cars. Now, with the factory under bankruptcy protection, there is a probability that the team now has to race with whatever spares they have left, and if it gets any worse, they may not even have cars to race with next season. Currently, over 200 are at risk with the new development.  Pictures used for illustration purposes only.