[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Sunny
Sunny
76°F
 
Calendar
Today in
S.C.V. History
November 18
1957 - Newhall County Library dedicated on Ninth Street; rededicated as city of Santa Clarita's Business Incubator exactly 57 years later (2014) [story]


Irwindale Speedway LLC filed for Chapter 7 bankruptcy on Monday, the same day track management announced that it was canceling the race schedule for 2012.

In paperwork filed with the U.S. Bankruptcy Court, Central District California, Irwindale Speedway LLC owes creditors $331,773.11. One of the creditors is Cantrell Aire Inc. in Santa Clarita. Irwindale Speedway LLC owes $1,379 to Cantrell Aire, which is owned by Jim Cantrell, whose son Connor Cantrell won the NASCAR Super Trucks championship at the track in 2011.

Irwindale Speedway LLC leased the track and offices from a company called Nu-Way Industries Inc. in Arcadia. Jim Mnoian, the president of Nu-Way Industries Inc., said he would like to find a company or group to take over racing operations at the track and resume racing as soon as possible.

He has been in talks with city of Irwindale officials, who also would like to see racing return to Irwindale Speedway. Irwindale Speedway LLC had a 33-year initial lease with two 10-year options with Nu-Way Industries Inc., Mnoian said. Bankruptcy court papers show that Irwindale Speedway LLC owes Nu-Way Industries $55,000 in rent. Mnoian said in an exclusive interview that Irwindale Speedway is not behind in its rent.

“Just a few months back,” Mnoian said. “That was not the case.” Mnoian also said the Irwindale Speedway management team was actively seeking a partner. “OnThursday, that’s what we were told. They were looking for a partner.”

Mnoian said he had no idea Irwindale Speedway LLC was going to file for Chapter 7 bankruptcy on Monday.

“I thought Jim Williams was above that,” Mnoian said. When asked if $330,000, the estimated amount Irwindale Speedway declared it owed to its creditors in the bankruptcy paperwork filed on Monday, was a lot for Williams and his management group, Mnoian said, “Not for someone of his means.”

Williams is the majority shareholder in Irwindale Speedway LLC.

Mnoian said he would like to see another company come in and take over the racing operations of the track.

“We wanted to re-lease the site or sell it,” Mnoian said. “Our company’s intention is to find a new tenant.

“We want an operator who has experience operating a track and take it over. The people who were running it didn’t have the experience and didn’t find anyone with experience in 15 years. Anyone is better than what they had.”

Phone messages left for Irwindale Speedway vice president and general manager Bob DeFazio were not returned.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

1 Comment

  1. SNFU says:

    “Cantrell Aire Inc. in Santa Clarita. Irwindale Speedway LLC owes $1,379 to Cantrell Aire, which is owned by Jim Cantrell, whose son Connor Cantrell won the NASCAR Super Trucks championship at the track in 2011.”

    This Makes It News Worthy In Sant Clarita? So the guy lost $1,389 bucks… Who is the plug that wrote this… As for as their total debt, I know home owners who lost more money than this.. What a joke… They file chapter 7 back to work in a few months.. Or they can always turn it into a swap meet..

Leave a Comment


WATCH NOW
Loading...
LOCAL SPORTS HEADLINES
Friday, Nov 17, 2017
Back in rainy Vancouver for the NAIA Cross Country National Championships on Saturday, the TMU Mustangs men's cross country team will look for more monumental firsts.
Thursday, Nov 16, 2017
Fifty-seven games including 15 matchups with 2017 NCAA Tournament teams highlight the 2018 CSUN Baseball schedule.
Thursday, Nov 16, 2017
The CSUN men's volleyball team wraps up a busy 17-day span this weekend, traveling to Westwood for the annual UCLA Fall Invitational.
Wednesday, Nov 15, 2017
The Lancaster JetHawks, High-A California League affiliate of the Colorado Rockies, roll out their 2017 Holiday Caravan Saturday, November 18 as the team takes part in Grace Resource Center’s Thanksgiving basket distribution.
Wednesday, Nov 15, 2017
The Mustangs buried 21 three-point baskets in their 113-50 win over visiting Bethesda University on Tuesday.

Latest Additions to SCVNews.com
1957 - Newhall County Library dedicated on Ninth Street; rededicated as city of Santa Clarita's Business Incubator exactly 57 years later (2014) [story]
The WiSH Education Foundation helped students at Sierra Vista Junior High School in Canyon Country with a donation of guitars Friday.
WiSH Foundation Donates New Guitars to Sierra Vista
Rep. Steve Knight (R, CA-25), is sending this letter to constituents about H.R. 1, the Tax Cuts and Jobs Act, passed by the U.S. House of Representatives 227-205 Thursday.
Knight: House Tax Bill Offers ‘Unprecedented Relief’
Los Angeles County and city of Los Angeles officials have reached a key milestone in their partnership to create 10,000 units of permanent supportive housing for homeless people over the next decade.
LA City-County Partnership to Create Supportive Housing for Homeless
'SpongeBob SquarePants: The Broadway Musical' officially opens at the Palace Theatre in New York on Dec. 4, but this weekend, NY-based CalArts alumni gather for a preview event.
Dec. 4: ‘SpongeBob SquarePants – The Musical’ Opens on Broadway
Tonight on SCV NewsBreak, SCV Sheriff's announced the arrest of a Saugus probationer on drug and probation violation charges. Plus, a look at some more fun, holiday events happening this weekend. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Friday, November 17, 2017
Seventy dancers from CalArts will present a massive ensemble performance outside the Walt Disney Concert Hall in Downtown Los Angeles on Friday and Saturday, Dec. 15 and 16 at 8 p.m.
Dec. 15-16: CalArts Dancers Plan Massive ‘Impromptu’ Performance
REDCAT, CalArts’ downtown center for contemporary arts, in partnership with the Mike Kelley Foundation for the Arts, will present the first-ever symposium on "Kandors," the last major project of renowned Los Angeles artist and CalArts alumnus Mike Kelley (Art MFA 78) on Saturday, November 18 from 10:30 a.m. to 4 p.m.
Nov. 18: REDCAT Symposium on Mike Kelley’s ‘Kandors’
Back in rainy Vancouver for the NAIA Cross Country National Championships on Saturday, the TMU Mustangs men's cross country team will look for more monumental firsts.
TMU Cross Country Poised for Podium Finish
The Santa Clarita Valley Chamber of Commerce invites local business owners and managers to a Chancellor’s Circle Breakfast briefing on 2018 employment laws in California at College of the Canyons' University Center on Friday, December 1 at 7:30 a.m.
Dec. 1: New State Employment Laws Outlined at Chancellor’s Breakfast
As part of the city of Santa Clarita's median turf removal project, nine medians on Orchard Village Road will be refurbished from November 2017 until approximately August 2018.
Orchard Village Road Medians to be Improved
'The Republican tax cut bill was written to help the rich at the expense of the middle class,' Sen. Dianne Feinstein (D-Calif.) said after Thursday's vote on HR-1 in the House of Representatives.
Feinstein: House Tax Bill Would Aid Rich at Expense of Middle Class
The city of Santa Clarita, in partnership with Parkway Motorcars, will host a free Thanksgiving Dinner at the city’s Newhall Community Center on Monday, November 20 from 5 p.m. to 7 p.m.
Nov. 20: Community Thanksgiving Dinner in Newhall
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, November 21, starting at 9:30 a.m.
Nov. 21: County Board of Supervisors Meeting Agenda
Santa Clarita Valley Sheriff's Station deputies arrested a man at a Park and Ride lot in Newhall after finding marijuana and cash in his vehicle early Tuesday morning.
Man Arrested for Marijuana at ‘Park and Ride’ Gets Ride to Jail
The city of Santa Clarita will host a ribbon-cutting ceremony to dedicate the new River Village Trailhead at Bouquet Canyon Road and Newhall Ranch Road on Thursday, November 30 at 10 a.m.
Nov. 30: Ribbon-Cutting to Dedicate River Village Trailhead
The Los Angeles County Department of Public Health confirmed the county's first two influenza-associated deaths of the 2017-2018 flu season.
Two Flu Deaths Confirmed in LA County
Officers from the California Highway Patrol's Newhall station arrested a man in Valencia after chasing his vehicle from Bakersfield Thursday afternoon, according to authorities.
CHP Arrests Driver in SCV After Chase from Bakersfield
Santa Clarita Valley Sheriff's Station Narcotics Bureau deputies arrested a Saugus probationer on drug and probation violation charges Thursday morning.
Saugus Probationer Arrested for Drug Possession
1969 - Construction begins on Magic Mountain amusement park [story]
Boeing announced its investment in Santa Clarita-basted Gamma Alloys, a leader in aluminum alloys focused on developing advanced metal-matrix composites for use in aerospace, automotive and other industries.
Boeing Invests in SC-Based Aerospace, Defense Company
CSUN Men's Basketball head coach Reggie Theus has announced the signings of transfers Jordan Bell, Josh Jefferson and Amel Kuljuhovic to national letters of intent.
Matadors Add Three Recruits During Early Signing Period
The Los Angeles County Commission on Human Relations (LACCHR) on Thursday released its annual account of hate crimes reported throughout Los Angeles County in 2016.
Report: Number of County Hate Crimes Remains High
Preparations are underway at the Michael Hoefflin Foundation as it gets ready for the 2017 Family Holiday Baskets.
Michael Hoefflin Foundation Requesting Donations for 2017 Family Holiday Baskets
Fifty-seven games including 15 matchups with 2017 NCAA Tournament teams highlight the 2018 CSUN Baseball schedule.
Matadors Release 2018 Baseball Schedule
The CSUN men's volleyball team wraps up a busy 17-day span this weekend, traveling to Westwood for the annual UCLA Fall Invitational.
Matadors Head to Westwood for UCLA Fall Invitational
The Williams S. Hart Museum located in Hart Park in Santa Clarita will host an Open House, “Exploring the Art at Hart,” on Sunday, November 19, 2017 from 11:00 a.m. - 4:00 p.m.
Nov. 19: Hart Park Open House, Exploring Art at Hart
The Los Angeles County Department of Parks and Recreation in cooperation with the Friends of Castaic Lake, will be hosting the 24th Annual Castaic Lake Winter Magic and Lighted Boat Parade, Saturday, Dec. 2nd at Paradise Cove, lower lagoon.
Dec. 2: Castaic Lake Winter Magic, Lighted Boat Parade
Santa Clarita Mayor Cameron Smyth will participate in the Santa Clarita Sierra Club’s first-ever “Mayor’s Family Hike” on Sunday, Nov. 19.
Nov. 19: Inaugural “Mayor’s Family Hike”
In anticipation of the busy holiday shopping season, Princess Cruises is launching its annual Cyber Sale, with two can’t-miss offers to the more than 360 worldwide destinations the cruise line visits.
Nov. 17-29: Princess Cruises Holiday Cyber Sale
Santa Clarita Elementary School will hold a Winter Wonderland Holiday Boutique, Saturday, Dec. 2, from 9:00 a.m - Noon.
Dec. 2: Santa Clarita Elementary Winter Wonderland Holiday Boutique
Two people were killed and two more were critically injured in a Wednesday evening crash on the northbound 5 freeway just south of Vista Del Lago, officials said.
Two Killed in Late Night Crash Near Pyramid Lake
STOCKTON – In this Caltrans News Flash, you get an up-close look as Caltrans transitions from 4-inch wide stripes to 6-inch wide stripes on the state highways, providing motorists with a better view of the road in darkness or inclement weather such as rain, snow and fog.
Wider Striping Part of Senate Bill 1, Provides Motorists Better View in Darkness
1997 - "Hercules" movie, directed by CalArts grad John Musker, wins four Annie Awards (animation's top honor) [timeline]
The Santa Clarita City Council gave the green light Tuesday night to a feasibility study to determine a location for a new amphitheater in the Santa Clarita Valley.
City Council OK’s Amphitheater Study, Condos