Mallory Park race track closure a "strong possibility"
Mallory Park racing track in Leicestershire could close, after its owner went into administration.
Mallory Park Motorsport Ltd (MPML) said it had no other option after a loss in earnings following a legal dispute.
Hinckley and Bosworth District Council, which took the legal action, said the track faced an uncertain future.
Steve Atkinson, chief executive, said: "There's a strong possibility it could close but over the next two or three days anything could happen."
The two-year legal dispute related to breaches of a 1985 notice which dictated how many days the track could be used and restricted noise levels.
'Offered to help'
The number of noise complaints about the track rose from eight 15 years ago to 153 in 2012, with residents in the nearby Kirkby Mallory describing the noise as "intolerable".
MPML was found guilty of five charges of breaching noise levels and fined £2,500, plus £23,000 court costs, at Leicester Magistrates' Court in August.
The company, which employs 145 people, said it had reduced circuit activity to two days a week following the ruling and had suffered a significant loss in income as a result.
The firm had previously discussed a recovery plan with the council and the landowner Titan Properties Ltd.
A fundamental part of the deal would have meant reducing the annual lease rental, which had risen by over 40% over the last eight years.
However, MPML said Titan Properties would not support the plan by providing a sustainable rent.
But Brian Robinson, director of Titan Properties, said: "We offered a 50% reduction in rent which was rejected by Mallory Park.
"It was a considerable reduction, that's a fact. We offered to help."