Suspicions of financial troubles at So24! by Lombard Racing have been confirmed, as the French team has filed for bankruptcy and has withdrawn from the European Le Mans Series.

The team was new to ELMS this year, and most recently competed in the 24 Hours of Le Mans.

Vincent Capillaire, Jonathan Coleman and Oliver Lombard were set to complete the full ELMS season in the No. 22 Ligier JS P2 Judd, but the team drafted in Erik Maris to replace Lombard at Le Mans, sparking rumors of financial difficulties.

The trio finished 14th in class at Le Mans, but did finish a respectable third at the Four Hours of Silverstone in April.

“Back to the garage for the No. 22 Ligier,” said Capillaire on Facebook on Thursday. “Lombard Racing filed for bankruptcy on July 5, triggering the withdrawal of the team from the ELMS championship.

“Thank you to all the mechanics, the team manager, engineers, and also to my partner Jonathan Coleman.

“Thank you all for the support received. Forza So24!”

The ELMS season restarts this weekend with the Four Hours of Red Bull Ring, without the So24! car.