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Champ Car World Series files for Chapter 11 bankruptcy

Updated: March 6, 2008, 5:29 PM ET
By John Oreovicz | Special to ESPN.com

INDIANAPOLIS -- Attorneys representing parent companies for the Champ Car World Series filed Chapter 11 paperwork in United States Bankruptcy Court on Wednesday.

The open-wheel racing series is set to stage its final event on April 20 in Long Beach, Calif. Champ Car intends to continue in the management and possession of its business and property as a debtor-in-possession until assets can be sold to pay off creditors.

Champ Car World Series LLC estimated it carries debts of ...

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