At a meeting of the creditors of Mallory Park (Motorsport) Ltd (MPML) on 19 November it was agreed the company should be placed into liquidation.
Administrator Ian Robert, partner at Kingston Smith & Partners, commented: “We received a good deal of interest in MPML from several parties within the motor racing industry. However, the decision of the landlord, Titan Properties Ltd, to refuse discussions with any potential purchasers has regrettably left no other option but for the company to be placed into liquidation.”
At the application of the majority creditor, Titan Properties Ltd, Mr M Chamberlain of Chamberlain & Co will be appointed Joint Liquidator, alongside Ian Robert, when the administration ends.
Robert added: “It is likely this process will lead to the landlord resuming control of the site and thus the future of Mallory Park and any further racing there will be in his hands.”
It was anticipated MPML would be placed into liquidation by 29 November.