Towcester Racecourse, the Northamptonshire-based greyhound and horse racing venue, is expected to go into administration.
The company stated on its website: 'Towcester Racecourse Company Limited, proprietors of Towcester Racecourse, are currently experiencing trading difficulties and are in discussions with key stakeholders and professional advisors on the way forward.
'However, the directors have concluded that they have no alternative in the short term but to seek court protection and are now taking steps to place the company into Administration.
'Whilst inevitably there will be considerable interest from customers, supporters and suppliers, the directors ask that they be given time to focus on exploring other options for the business and they anticipate there will be a further update in the next few days.
'The directors remain hopeful that despite the current situation, given the significant history of horseracing and more recently greyhound racing at Towcester, there will be significant interest from potential acquirers.'
Having cancelled the greyhound races over the weekend, the next scheduled horse racing fixture is on Wednesday, 10 October, with 11 meetings planned between then and May 2019.
