Marussia: 200 redundancies as F1 team folds November 7, 2014 -- Updated 1652 GMT (0052 HKT) Formula One team Marussa goes out of business Administrators failed to find investors; 200 jobs to go Marussia's collapse highlights F1's financial problems (CNN) -- As the Formula One caravan geared up for the penultimate race of the season at Sao Paulo in Brazil, the wheels have finally ground to halt for one of the sport's 11 teams. Unable to race in last weekend's U.S. Grand Prix in Austin after sliding into administration, Marussia has folded with the loss of approximately 200 jobs after administrators failed to find new investors. "It goes without saying that it is deeply regrettable that a business with such a great following in British and world motorsport has had to cease trading and close its doors," said Geoff Rowley, joint administrator and partner at FRP Advisory, in a statement While the team made significant progress during its relatively short period of operation, operating a F1 team requires significant ongoing investment. Sadly no solution could be achieved to allow for the business to continue in its current form. Marussia employees have been paid up to the end of the October and FRP promised " to assist staff who have lost their jobs and provide them with the necessary support to submit timely claims to the Redundancy Payments Service." Earlier in the season Marussia driver Jules Bianchi suffered severe head injuries in a crash at the Japanese Grand Prix. He remains in hospital in a critical but stable condition. The F1 season ends in Abu Dhabi on November 23, but Marussia's collapse leaves the sport with plenty of questions to answer given the money it costs to run a team. Read: Is F1 running out of gas? October 21, 2014 -- Updated 0958 GMT (1758 HKT) He's paid millions to drive one of the world's fastest cars, and he's one of F1's most colorful characters, but Kimi Raikkonen loves normality. October 12, 2014 -- Updated 1745 GMT (0145 HKT) It took a little longer than expected but MotoGP's young star Marc Marquez wraps up his second world title in Japan. October 9, 2014 -- Updated 1039 GMT (1839 HKT) Rising star Daniil Kvyat made history as the home hero at F1's first Russian Grand Prix, ahead of next season's move to Red Bull. September 19, 2014 -- Updated 1358 GMT (2158 HKT) Take the fittest driver in Formula One and test him against two of the world's leading triathletes in a high-performance laboratory. September 5, 2014 -- Updated 1604 GMT (0004 HKT) Mercedes has the fastest two cars in Formula One this season but there is just one problem -- there can only be one world champion. July 24, 2014 -- Updated 1135 GMT (1935 HKT) Formula One is not likely to go hungry in Hungary as master chefs cater in volume for drivers, teams and VIP guests. July 3, 2014 -- Updated 1443 GMT (2243 HKT) It's the elephant in the room of Formula One. What's the prognosis legendary driver Michael Schumacher? May 23, 2014 -- Updated 2310 GMT (0710 HKT) It stimulates all five senses, creating an unparalleled experience for drivers and fans alike. Take a tour of Monaco with Mark Webber.