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 confirmed that they have sold certain assets of the company to Fermor Land LLP.
This brings to an end 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.
The assets included in the sale are the ten Towcester horse racing fixtures, machinery, equipment, buildings (stands) and dog track located at Towcester Racecourse. Having received a significant amount of interest in the assets, the offer received from Fermor Land LLP represents the best return to creditors.
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.”