East Mids racecourse set to enter administration

Towcester Racecourse in Northamptonshire is set to call in administrators after admitting it “experiencing trading difficulties”.

Owners, Towcester Racecourse Company Limited have cancelled this weekend’s meetings and says it is in talks with “key stakeholders and professional advisors” on a way forward.

A statement on the racecourse’s website said: “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.

“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.

Towcester’s latest financial results, made up to the end of 2016, show a loss of £2.4m.

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