Administration for Mallory Park

Mallory Park Motorsport Limited has announced that the company has been put into administration.

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'Positive discussions' over Mallory Park but some staff lost

The administrator for Mallory Park (Motorsport) Limited has described the latest talks regarding the future of Mallory Park race track in Leicestershire as 'positive', but also confirmed that a third of the staff at the track have been made redundant.

We are continuing to have positive discussions with the Council and the landlord, which we hope will pave the way for a company to be able to operate the race track as a viable business.

We are in discussions with several interested parties about the sale of Mallory Park (Motorsport) Limited). In the meantime, with very reduced trading and limited income, as administrators we have had to take steps to reduce on-going costs.

Unfortunately, as a result, we very sadly had to make four out of the six staff at Mallory Park (Motorsport) Limited redundant yesterday. We have been able to keep a skeleton staff of two on site to ensure continued access and that non-track activities can take place as timetabled.

We hope to find a successful resolution soon so that Mallory Park can see racing again in the future.

– Ian Robert, Administrator of Mallory Park (Motorsport) Limited

Charity pulls ticket sales after administrators take over

A charity has pulled ticket sales for its annual bonfire night event while they wait to see whether administrators will allow it to go ahead.

LOROS, in Leicester, raises thousands of pounds with the night every year.

But since its host, Mallory Park Race Track, went into administration on Monday the event has been thrown into doubt.

Christian Weikert-Picker, from LOROS, told ITV News Central the charity is suffering as it doesn't know where it stands.

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Mallory Park administration could have negative impact on local economy

A guesthouse owner says he is worried his business could end after Mallory Park Motorsport Limited went into administration yesterday.

It comes after the owners of the race track in Leicestershire were fined last month for breaching noise level restrictions. The future of racing at Mallory Park is now in doubt.

Fifty per cent of Frank Barson's turnover comes from the track.

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Park administrators confident racing will resume

Administrators for Mallory Park are confident racing will resume at the Leicestershire circuit.

The company that runs the track went into administration yesterday.

Mallory Park administrators confident racing will resume Credit: ITV News Central

It is after it lost a court case over noise and was forced to cut the number of race events it holds each year.

The company says the business is no longer viable.

Council: 'Sad day for racing at Mallory Park'

The Chief Executive of Hinckley & Bosworth Borough Council has called it a 'sad day for racing' as Mallory Park Motorsport Limited announced that the company has been put into administration.

This is a sad day for racing at Mallory Park and indeed for the local community.

As Mallory Park Motorsport Ltd (MPML) has acknowledged, we have been working constructively over the last few weeks and were very close to securing what both parties needed to achieve a viable longer term recovery plan.

As it stands, that has not been achieved because of the position taken by the landowner. However, we share the optimism of the Administrator that a resolution can still be secured and are committed to work to that end over the next few days.

– Steve Atkinson, Chief Executive, Hinckley & Bosworth Borough Council

Mallory Park Motorsport Limited go into administration

A motorcycle at the Leicestershire circuit Credit: ITV News Central

Mallory Park Motorsport Limited has announced that the company has been put into administration.

The circuit in Leicestershire has been running as a motorcycle and car racing circuit for many years.

Mallory Park Credit: ITV News Central

In August, Mallory Park was ordered to pay fines and costs of more than £26,000 for breaching noise regulations.

The administrator, Ian Robert 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.”

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