Marussia latest: 200 jobs lost as F1 team stops trading

Marussia has officially gone out of business, with the loss of more than 200 jobs.

The Banbury-based marque was placed in administration on October 27 and despite stringent efforts over the last few days to find a buyer and keep the team afloat, they have ultimately come to nothing.

Geoff Rowley, joint administrator at FRP Advisory, said: "It goes without saying that it's deeply regrettable that a business with such a great following in Britain and worldwide has had to cease trading and close its doors."

PA