Copyright: juhku / 123RF Stock Photo

Towcester set for administration after “trading difficulties”

Historic UK racecourse and greyhound track Towcester has cancelled all its scheduled meetings for this weekend after announcing it’s set to enter into administration.

The course, which is owned by the Fermor- Hesketh family and is steeped in history, is scheduled to host a further three cards this year with the first commencing on 10 October, however whether these take place remains to be seen as “trading difficulties” continue for the venue.

In a statement the course said: “Towcester Racecourse Company Limited, proprietors of Towcester Racecourse, are currently experiencing trading difficulties and are in discussions with key stakeholders and professional advisors on the way forward.

“However, the directors have concluded that they have no alternative in the short term but to seek court protection and are now taking steps to place the company into Administration.

“As a result, it is with regret that the greyhound meetings on this Friday, 17th August and over the weekend at Towcester Racecourse have been cancelled.”

The statement added: “Whilst inevitably there will be considerable interest from customers, supporters and suppliers, the directors ask that they be given time to focus on exploring other options for the business and they anticipate there will be a further update in the next few days.

“The directors remain hopeful that despite the current situation, given the significant history of horseracing and more recently greyhound racing at Towcester, there will be significant interest from potential acquirers.”

Check Also

Rothschild appointment sees UKGC complete advisory for 4th lottery tender

Investment bank Rothschild & Co is to act as the UK Gambling Commission (UKGC) lead …

Russell Karp: DataArt – US betting faces a UX ‘culture clash’ challenge…

Does the betting industry recognise its prominent ‘UX challenge’ developing and delivering its initial product …

Paddy Power unveils Newport County as third SoS supporter

After recently unveiling both the Huddersfield Town and Motherwell kits, Paddy Power has added a …