Parts of Towcester Racecourse sold

Ten horse races, the dog track and the stands at Towcester Racecourse are among the assets sold by the venue, KPMG has confirmed today.

Tuesday, 13th November 2018, 3:03 pm
Updated Tuesday, 13th November 2018, 4:38 pm
The stands at Towcester Racecourse is among the assets sold to Fermor Land LLP
The stands at Towcester Racecourse is among the assets sold to Fermor Land LLP

The company went into administration in August and made 134 of 137 staff redundant, retaining a skeleton staff of three to help KPMG's Mark Orton and Will Wright while they sought a buyer for the business and its assets.

Fermor Land LLP bought certain assets from the Northamptonshire venue, bringing an end to the day-to-day running of Towcester Racecourse Company by Lord Hesketh.

"Fermor Land LLP are considering a range of options for the future of the racecourse and hope to be able to make an announcement early in the New Year," said a KPMG spokeswoman.

Sign up to our daily newsletter

The i newsletter cut through the noise

"Having received a significant amount of interest in the assets, the offer received from Fermor Land LLP represents the best return to creditors."

The assets included in the sale are the 10 Towcester horse racing fixtures, machinery, equipment, buildings (stands) and dog track at Towcester Racecourse.

Partner and joint administrator Mark Orton said: “We are delighted with the sale of the Towcester Racecourse Company assets.

"I would specifically like to thank the British Horseracing Authority (BHA) for their support during the administration process."

As many as 25 buyers have declared an interest in either the racecourse itself or a number of its races since it went into administration.