Mallory Park (Motorsport) Limited enters administration
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As you may be aware Mallory Park, motor racing circuit, home to Midlands motor racing, has faced a series of difficulties in recent months to which it has regrettably been unable to reach a solution with local residents, the council and the landlord. As such, it entered into administration on Monday 30 September 2013.
Ian Robert, a partner at Kingston Smith & Partners LLP, the corporate recovery arm of accountancy firm Kingston Smith LLP, was appointed Administrator. Ian said: “I will be working with all the stakeholders to ensure that Mallory Park will see racing again. I hope the administration process can assist in finding a solution which will be beneficial to all parties concerned.”
He continued: “To that end, I will be negotiating with the landlord and the council, with the support of the BARC, to ensure that racing can be enjoyed at MP for years to come. Although it is early days, I am hopeful that, once a solution to the lease is found, all of the company’s creditors should receive a substantial dividend, which I understand is very much the driving force behind the continued support of the BARC.”
On behalf of Mallory Park, Kingston Smith & Partners thanks you for your continued support. The circuit is temporarily closed but we are working toward reopening quickly. Please return to this page for further information, which will be updated regularly.
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