Ant Anstead‘s bespoke carmaker, Radford Motors, has filed for Chapter 11 bankruptcy.
The Oct. 22 filing came after he was accused of fraud and misrepresentation, according to documents obtained by PEOPLE.
The master mechanic and TV host was a cofounder of the company, which revived the formerly defunct British automaker Radford, in August 2020 with the goal to build custom, high-end sports cars.
Anstead and one of his business partners, Formula One champ Jenson Button, starred in the five-part docuseries Radford Reborn in April 2023, which followed the creation of their Lotus-Radford Type 62-2 supercar.
“This is personally a huge risk for me,” Anstead told PEOPLE in April of the high stakes business venture in an exclusive interview. “We have seven people, and we privately funded this. We are doing it. We’re risking everything.”
The small team’s masterpiece was “a reimagined version of the fabled Lotus Type 62,” according …