mallory park gone into administration today

[stewart pickles]

sad day but not unexpected,we were due to race the bikes this coming weekend (or rather my mate was) but the meeting has been cancelled as mallory went into administration today

[stu999]

     

[alexander72]

thats a real shame - bad times ...

[stewart pickles]

a up stu where have you been hiding 

[Terry Everall]

Was that due to the noise issue that came up a few months ago?

[Mark Stanton]

Very sad day for such a friendly circuit - thoughts are with the small work-force that was always so welcoming and helpful on the many WSCC trackdays held there            

[Meakin]

Are you sure they have cut back due to the days as part of the Court case. They announced a month ago that certain races were cancelled like the festival of sidecars.

There is nothing on their website and I also get updates via email and got nothing

Paul

[jeff oakley]

I found this on another site which explains the situation. All would appear not to be lost but there is a long way to go before the track is back in action.

 

from what I have read this was a complicated case, where the 1985 permissions was never enforced. Due to activities being held there more often some residents started to object which has led to this situation.

 

I bet the landowners will be busy banging in building applications now to various parties to realise the asset value of what is at the moment an unusable item.

 

I hope it gets reopened, but the worry is that those who live near race circuits will be bouyed by this as another example of a well orcestrated objection leading to success for those who have moved in.

 

 

it is with great regret that Mallory Park Motorsport Limited has today announced that the company has been put into Administration. Mallory Park has been operating as a motorcycle and car race circuit for many years and has much history attaching to the circuit. In 1985 a highly restrictive Noise Notice was attached to Mallory Park Motorsport Limited (‘MPML’) embracing all circuit activities but, significantly, a number of the provisions within the Notice were very much open to interpretation.

MPML has enjoyed a long and fruitful relationship with Hinckley & Bosworth Borough Council over the years and a level of understanding had been established to work within the 1985 Notice. Regrettably, however, this arrangement was placed under scrutiny by local residents some of whom were new to the village, who made representations to HBBC to apply the rigid interpretation of the 1985 Notice.

MPML and the local authority worked extremely hard with the residents to find a compromise solution but, unfortunately, the council decided to prosecute MPML on five charges of the Notice during 2012 which involved operating on a Saturday over and above the four days agreed in the Notice. The court hearing took place in August 2013 and ruled that MPML was guilty of this breach on the five occasions, but MPML was given the right to take the establishment rights of the 1985
Notice to a higher court.

The immediate implication of the Court decision was to oblige MPML to observe the provision of the 1985 Notice, which allows only for 40 days racing on Sundays per annum (but with a dispensation to allow four Saturdays per annum) and testing on Wednesdays. MPML was accordingly obliged to cancel all track day operations, resulting in a significant loss of income (a situation also felt by local businesses and local employers) and use of the track for local community activities – young driver training etc. Overall, the imposition of such restrictions has inevitably led to MPML having a financially unstable business plan.

Following the Court case, MPML immediately implemented the highly restrictive conditions of the 1985 Notice, thus effectively reducing the circuit activity to two days per week. Significant losses were being incurred which no business can sustain. It was clear that a more dynamic approach needed to be taken to overcome the significant hurdles and two weeks ago MPML developed an innovative three stage Recovery Plan to take Mallory forwards which would hopefully meets the wishes of the residents and form the basis of a viable business.

Very constructive dialogue was held with the Leader of HBBC and senior officials and we were receiving very encouraging reactions from them to the Plan. A fundamental component of the Plan was the agreement of the Land Owner to reduce the annual lease rental, which had risen by over 40% over the last eight years and had reached untenable levels. Very regrettably, despite intense work by the MPML board, the Land Owner – Titan Properties Ltd – refused to make a substantive offer to allow the Recovery Plan to proceed.

British Automobile Racing Club were keen to support MPML (and did so up to the final race meeting yesterday by paying for certain essential supplies allowing the meeting to place) and indeed would have supported MPML to ensure all its trade creditors were paid. To that end, it needed the support of the Landlord with a sustainable rent but, regrettably, this was not possible to achieve.

Accordingly, having no firm visibility into 2014 and beyond, MPML directors had no option but to place the company into Administration.

The administrator, Ian Robert of Kingston Smith & Partners LLP, commented: “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 Mallory Park 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.”
 

 

[Meakin]

Very sad news hopefully something will be sorted before a housing estate is built.

Paul

[Nick Algar - Competition Secretary]

Oh dear, really sad to see it go, I do hope something gets sorted out, but sounds like it's the landowner now who is refusing to move. Unforunately it looks like a new retail park or housing estate might win that one.

 

Still my Outright Lap Record of 37.92 secs will stand for ever, I was looking forward to see what would be able to beat that.

[SteveD]

another pile of bulls*** where new folk moving near a circuit then complaining about noise puts pay to the circuit , its a load of crap they know where they are moving and what goes on so they should in no way be allowed to complain or cause this situation , its about time the courts grew some balls and used common sense

[M444TTB]

another pile of bulls*** where new folk moving near a circuit then complaining about noise puts pay to the circuit , its a load of crap they know where they are moving and what goes on so they should in no way be allowed to complain or cause this situation , its about time the courts grew some balls and used common sense

Agreed. It has been the same at Castle Combe, circuit which has been operating since the 1950's. How many home owners in Castle Combe and Yatton Kennel owned property there pre-1960 I wonder? I suspect the same will eventually happen near me as we have the local speedway stadium half a mile away and it's pretty clear on a Thursday evening.

Still, when someone slaps a retail park and a mixed high density housing estate on there they'll wish it was a circuit still.

[6carjon]

What about the canteen and the Mallory breakfast -(

[Meakin]

Still, when someone slaps a retail park and a mixed high density housing estate on there they'll wish it was a circuit still.

You're so right. Hopefully someone will save it and in the process get the council to sort this noise argument once and for all. Mallory had a plan to move the hairpin and the circuit away from the village. Makes you think what the landlord of the land has in mind.

[Andy Banks]

another pile of bulls*** where new folk moving near a circuit then complaining about noise puts pay to the circuit , its a load of crap they know where they are moving and what goes on so they should in no way be allowed to complain or cause this situation , its about time the courts grew some balls and used common sense

A bit OT but a similar thing has happened to my local. New block of exec flats built where the pub stables used to be (it was a coaching inn) and was empty for years, now the price has substantially dropped, people are moving in and complaining about the noise from the pub garden to the extent that the landlord has to shut the garden at 10pm. 

 

It's a nonsense, the pub has been a well know pub and been around for many 100's of years, now a block of flats no more than 10 yrs old goes up and the pub suffers.

 

NIMBYs and the council seriously need some common sense...