Is Essex Invest closing its doors?

The Danish property developer Essex Invest has been the backer for the Danish Touring Car Championship team Team Essex Invest from 2002 to 2007, with John Nielsen, Casper Elgaard and Privateer Phillip Andersen.

But in today’s edition of the Danish investment magazine Børsen, an article reveals that the funder Essex Invest, headed by Peter Halvorsen, is fighting for the company’s survival. Due to spiralling debts Essex Invest is claimed to be negotiating with its creditors.

So far the negotiations have been held outside the Danish courts, in an effort to secure sufficient liquidity to secure the company’s survival.

Founder Halvorsen expects that the company will stay in business, should the negotiations with its biggest creditors be successful.

At the 2009 Le Mans the team won the LMP2 title in a Porsche RS Spyder with DTC drivers Kristian Poulsen and three time DTC champion with Team Essex Invest, Casper Elgaard.