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Update: Administration of Towcester Racecourse Company Limited

Administration of Towcester Racecourse Company Limited

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Following their appointment on 21 August 2018 as joint administrators of Towcester Racecourse Company Limited, Mark Orton and Will Wright from KPMG’s Restructuring practice have been marketing the business and its assets for sale on a going concern basis.

 

In order to provide adequate time to run a sale process, the administration team has been working with the British Horseracing Authority (BHA). As a result, the 10th October 2018 jump fixture, which was held at Towcester Racecourse in previous years, will be transferred as a one-off to Southwell Racecourse. 

 

Mark Orton, partner at KPMG and joint administrator, commented: “We’re pleased that the jump fixture on 10th October is now able to go ahead and we will continue to work with the BHA to enable the sale of 10 further upcoming fixtures at Towcester Racecourse.

 

“There has been a strong response from the market, with 25 interested parties to date and we are now in the process of working through these. Indicative offers are being sought in late September and we hope to conclude the sale process in October, to allow sufficient time for the 29th November 2018 jump fixture to be held at Towcester Racecourse.”

 

Any parties interested in making an offer for the business and its assets should contact Gareth Shaw on 0121 232 3288 or gareth.shaw@kpmg.co.uk

 

ENDS

 

For media enquiries only, please contact:

Jo Chileshe, KPMG Corporate Communications
T: +44 (0)121 232 3343
M: +44 (0)7919 211 803
E: jo.chileshe@kpmg.co.uk

Follow us on twitter: @kpmguk

 

KPMG Press Office: +44 (0)207 694 8773

 

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