The Bob Bondurant School of High-Performance Driving, Inc., which has been open for 50 years, will be temporarily closing down due to financial struggles.

Since 1968, the school has been using the Bondurant Method to teach both professional racing drivers, and normal commuters to become more proficient drivers.

“Bob’s proven training technique that allows us to peel back your driving habits, and build you into a more confident, capable driver. You won’t just learn – you’ll have more fun than you thought possible on four wheels,” reads the company website.

On Tuesday, the company released a statement announcing the closure. The statement offered additional explanation stating that the school had filed a voluntary petition under Chapter 11, and is in the process of restructuring

“Yesterday, we experienced circumstances that unexpectedly caused the School to close its doors temporarily,” read the statement. “The Bondurants intend on continuing the School’s restructuring efforts, negotiating with potential investors, and implementing a new management team to assure the successful future of the School. We remain optimistic and hope to keep the School’s legacy alive for years to come.”