Towcester racecourse to be placed into administration after ‘trading difficulties’
The racecourse announced the news on Thursday via a statement on Facebook
GREYHOUND racing at Towcester has ceased with immediate affect after news that the company that owns the Northamptonshire venue has gone into administration.
It could mean the end of both dog racing and horse racing at the race course, which staged its first horse meeting 90 years ago, unless a rescue package can be created.
Towcester has quickly become greyhound flagship venue since opening just under four years ago, but it has never shown a profit.
Despite that in June it staged the Greyhound Derby for the second time.
Betting shop content provider SIS and racecourse owners ARC have been mentioned as companies who may either buy the picturesque racecourse or take over the management of the business in the short term.
Greyhound trainers based at the course have already started to shut up shop. The country's leading trainer Mark Wallis has announced he is moving his kennel to Henlow immediately.
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In a statement posted on his website, Wallis said: "Most people will have heard the sad news of Towcester Racecourse going into administration.
"I have had no official personal contact from Towcester but with no racing this weekend or the foreseeable future I have this morning agreed to move our complete kennel strength to Henlow.
"I would like to thank Kevin Boothby for giving me the chance to guarantee a future for my staff, owners and dogs and look forward to working with them from next week.
"I will contact all my owners personally throughout today."
A statement issued through Facebook read: "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.
"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."
The racecourse will always hold a place in racing history after AP McCoy rode his 4,000th career winner on Mountain Tunes at the course back in 2013.
ITV Racing and At The Races presenter Matt Chapman regularly covers both horseracing and greyhound racing at Towcester and called on someone to save the track.
He told At The Races: "This is an aesthetically beautiful racecourse - it's just a wonder when you're there. The weather can be a bit tempestuous at Towcester, but on a beautiful, sunny day, there are few racecourses that have a better view.
"It will be a massive disappointment if racing is lost at Towcester. More importantly than that, in the immediate future, is that you have an industry going on there at the moment in the world of greyhound racing.
"The greyhound stadium was put up there and it cost £15 million to redevelop by Lord Hesketh, who has chucked an enormous amount of his own money at Towcester.
"For whatever reasons this has now happened, there are a lot of people who are going to be affected by this, unless, of course, something can be done to salvage the situation.
"Anyone who has a love of horseracing, a love of beauty and a love of sport, will hope that someone out there thinks that Towcester is worth saving."
The British Horseracing Authority admitted it was unaware of Towcester's predicament.
A statement read: "Towcester racecourse is yet to formally make us aware of their plans to go into administration. When we receive this notification, we will consider the implications that this has for the racecourse's licence and scheduled fixtures."