SPEEDVEGAS files chapter 11 bankruptcy

The sign for the SPEEDVEGAS race track outside of the Las Vegas Valley appears in this undated photo. (FOX5)

SPEEDVEGAS has filed for Chapter 11 bankruptcy.

In a statement released to FOX5, the company said it has negotiated financing so it can operate "without interruption during this process."

SPEEDVEGAS, which is located said,"this last quarter was our strongest since the opening of the track." Adding, the company intends to use the coming months to restructure and continue its growth.

The track opened in 2016. It allows people to drive exotic cars at high speeds on a closed course.

Since its opening two people were killed in a fiery crash, faced allegations that the track is dangerous, and was subject to a lawsuit.

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