Morgan-McClure Motorsports closes shop

Morgan-McClure Motorsports closed its doors today [Friday], laying off 28 employees and further damaging any slim hopes the last Virginia-based Sprint Cup team has of competing in its 26th season. Team Manager and co-owner Larry McClure said earlier this afternoon that if the team did not find sponsorship money by the end of today, there would be mass layoffs. The layoffs happened around 3pm. "It's been a good 25 years," McClure said after the announcement. "Circumstances made us take a step back." McClure said he and co-owner and President Tim Morgan would work with their marketing team to continue to search for sponsorship to run the full season. They are working on an agreement to have Mike Wallace drive the #4 Chevy in the Daytona 500, a race Morgan-McClure has won three times. McClure did say if sponsorship came together in the next several weeks, the team would have cars available to race at Daytona. Richmond Times Dispatch