Ian Robert, a partner at Kingston Smith & Partners has been appointed administrator to Mallory Park (Motorsport) Ltd, a motor racing circuit in the Midlands that has been operating since the 1950s.

Robert said the company had faced a series of difficulties in recent months and had been unable to reach a solution with local residents, the council and the landlord. Following the administration, negotiations will continue with the support of the industry body the British Automobile Racing Club (BARC).

Robert said: 'I hope the administration process can assist in finding a solution which will be beneficial to all parties concerned. 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.'