More than 70 jobs go at Huntingdon-based Lola race cars

Race car maker Lola, which applied for administration on Wednesday, has announced 73 staff redundancies from its two Cambridgeshire factories.

The Huntingdon-based company employed a total of 176 staff.

Lola Cars International will lose 37 posts with a further 36 from Lola Composites.

Joint Administrators CCW Recovery Solutions said "significant interest" had been expressed and it was in discussion with "potential new owners".

The firm, which makes sports cars for track events, including the Le Mans 24-hour race, and also offers research services to the defence and aerospace industries, blamed the economic downturn for a drop in trade.

The firm began trading in 1958.