Ant Anstead’s car company filed for bankruptcy on Oct. 10, after he was accused of fraud and misrepresentation, Page Six can confirm.
“I’m here to share that we’re making standard organizational changes at Radford while maintaining our regular operations. After spending most of the past six months in the UK filming my new show ‘Born Mechanic,’ I’ve returned to the US and continue my strong support of Radford and its direction,” Anstead exclusively told Page Six.
“My deep involvement with the company remains unchanged. It is unfortunate when you are in a situation where some ownership is not leading with the best intention of the company, but Jenson [Button] and I remain steadfast and like any entrepreneurial start up, we remain loyal to the brand and our clients.”
Co-founder Daniel Bednarski confirmed to People on Wednesday that Radford Motors was “going through a Chapter 11 Business restructure that will be implementing strategic changes to strengthen our foundation for the future.”
Bednarski shared that “certain ownership transitions will occur,” but he did not clarify whether he was referring to himself or Anstead.
“We are excited about the road ahead and remain focused on continuing business as usual with renewed energy and purpose,” he added.
Bednarski reiterated that the luxury vehicles company is “committed to its legacy of unparalleled craftsmanship and excellence.”
“This pivotal move ensures the company will continue to exceed client expectations and shape the future of luxury vehicles,” he concluded.
Anstead, 45, and Bednarski filed for bankruptcy after one of their former business partners, Pastor Pat Velasco, sued the duo in March for allegedly owing him $2 million.
The “Celebrity IOU: Joyride” co-host and Bednarski found themselves in a second legal battle in July when another co-owner, Roger N. Behle Jr., accused them of mismanaging the company’s finances.
Behle said in his complaint that Anstead and Bednarski secured a sale for $100,000 but allegedly “took $54,635.52 from this deposit and used it to pay a vendor for work unrelated to the new client’s vehicle.”
“Twenty-nine minutes after the first wire was sent, Bednarski took more of the new client’s funds and paid himself $20,000 via wire,” Behle further alleged in his suit.
Behle also accused Anstead and Bednarski of using company funds to pay for personal expenses, such as auto insurance.
Anstead and Bednarski have since filed a counterclaim against Velasco and Behle.
The business partners founded the company that “specializes in the creation of bespoke, luxury vehicles” in 2020, per its website.
The “For the Love of Cars” host previously admitted that launching Radford was a “huge risk” for him.
“We have seven people, and we privately funded this. We are doing it. We’re risking everything,” he told People in April.
Anstead, who is currently dating Renée Zellweger after his divorce from Christina Hall, has not publicly addressed the bankruptcy nor did his rep return Page Six’s request for comment.
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