Hilmer Motorsport will miss the opening round of the GP2 Series season in Bahrain this weekend, reducing the field to 24 entries.
The German team had taken part in pre-season testing with Nick Yelloly, Nigel Melker and Sergio Canamasas appearing in its cars.
But on Wednesday morning GP2 announced that Hilmer would be absent from Sakhir.
Hilmer has spent two years in GP2 since taking over Ocean Racing Technology's entry for 2013.
It was a race-winner with Robin Frijns, Jon Lancaster and Adrian Quaife-Hobbs in its debut season but was only 12th in last year's standings, when it ran in Force India Formula 1 colours and featured Daniel Abt, Facu Regalia, Nicholas Latifi and Lancaster in its driver line-up.
The team also competed in GP3 last season but handed its entry to Campos Racing for 2015.
The GP2 entry for the Bahrain event was completed on Wednesday when MP Motorsport secured series regular Canamasas for the opening round, filling the final remaining vacancy in the field.
BAHRAIN GP2 FIELD
Pierre Gasly, Alex Lynn
Marco Sorensen, Julian Leal
Stoffel Vandoorne, Nobuharu Matsushita
Jordan King, Alexander Rossi
Mitch Evans, Artem Markelov
Raffaele Marciello, Rene Binder
Arthur Pic, Rio Haryanto
Daniel de Jong, Sergio Canamasas
Sergey Sirotkin, Robert Visoiu
Norman Nato, Andre Negrao
Nathanael Berthon, Zoel Amberg
Status Grand Prix
Marlon Stockinger, Richie Stanaway