Red Horse Racing, which has competed in the NASCAR Camping World Truck Series since 2005, has suspended operations.
The organization, which reached the championship race last year with Timothy Peters, had 16 career victories. The team laid off 30 employees along with Peters and driver Brett Moffitt, a team official told NBC Sports. The team has kept a core group of employees as it seeks funding to resume operations.
Peters finished fifth in Friday night’s race at Charlotte Motor Speedway. Moffitt placed 18th. Peters is sixth in the points and Moffitt is 10th. Neither truck has had a primary sponsor listed in all five races this season.
Peters won at least one race for the organization from 2009-15. In 2012, the organization finished second in the owner points with four drivers scoring wins: Peters (two wins), Todd Bodine (one), John King (one) and Parker Kligerman (one).