The British outfit went in to administration towards the end of last season, around the same time as the demise of Marussia. Though thanks to crowdfunding, and the belief that a new buyer could be found more easily if the team were a going concern, they did manage to line up for the final race of 2014.
That fresh investment never materialised, and the administrators have now put the team's assets up for auction.
The news comes just a day after Marussia were denied permission to use last season's car for 2015, so it's looking very much like a nine-team, eighteen-driver grid come the first race of the new season in Australia this March.
Boo!