LONDON - Caterham's assets, ranging from last year's car to the office chair, are up for sale, ending any outside hopes of the struggling Formula One team returning to the grid this season.
Caterham's Kamui Kobayashi takes part in a practice session for the 2014 Russian Grand Prix at the Sochi Autodrome
The fire-sale was announced on Thursday by Wyles Hardy, the firm instructed by the British-based backmarkers' administrators to hold a series of online auctions to realise the team's assets.
"The first auction will focus on the race support and pit lane equipment including the 2014 chassis’ and show cars and is scheduled for early March," Wyles Hardy announced.
In December, Caterham were given special dispensation by F1's governing body to compete in the 2015 world championship with their 2014 car should a buyer be found.
That would have enabled any new owner of Caterham to remain in F1 without incurring the huge costs of developing a new car.
Caterham were forced to skip the United States and Brazil rounds of last season's world championship after going into administration, with their return for the finale in Abu Dhabi largely made possible by public donations.
Fellow cash-strapped F1 minnows Marussia went into administration like Caterham in October, missing the closing three races.
Various reports this week suggest it is still not completely out of the question that Marussia could exit administration and line-up for the season-opening Australian Grand Prix on March 15, using last year's car.