Super Aguri have gone into administration after a team of corporate recovery partners was appointed to seek a buyer for the operation.
The team's principal Aguri Suzuki announced on Tuesday that Super Aguri had withdrawn from the 2008 Formula One World Championship, after an 11th-hour bid by Germany's Wiegl Group to save the team failed.
The administrators hope to sell the outfit as a single entity, to a party that is looking to launch an F1, or other motorsport, operation, and claim to have already received several expressions of interest.
Super Aguri F1 employed 90 staff from their base at Langley in Oxfordshire, including drivers Takuma Sato and Anthony Davidson.
In a statement, joint administrator Philip Long said: "This provides a unique opportunity to get into high-level motorsport without having to build an operation from scratch. In terms of capability, a new team could easily be up and running for the 2009 season.
"Virtually everything is in place including the people, the technical expertise, the premises, and testing facilities. A new team could walk in and take over a fully operational unit from day one and I'm pleased that there has already been significant interest."
News of the team's demise was received in Japan today by protestors carrying Super Aguri flags gathering outside Honda's headquarters in Aoyama, demonstrating against the manufacturer's refusal to continue to support the outfit, and their hero Sato.