The mystery surrounding the closure of Three Sisters Race Circuit has deepened as more details emerge of the site’s complex history.
Shock waves rippled through the community yesterday as news emerged that the company which owns the track days and karting school has gone bust.
But documents have revealed that the lease owners, Motorsport Circuit Management Ltd (MCM), the tenants The Racing School Ltd and also Three Sisters Race Circuit Ltd, which went into liquidation in 2015, all have involvement from directors with the same family name.
Today the site remained padlocked. But at around 10.30am the managing director of MCM emerged from within the facility.
Mark Foulston explained that as the lease holders, MCM is now owed £700,000 by the tenants, Three Sisters Racing Circuit Ltd.
But companies house shows that following its liquidation, the endebtted company was sold to The Racing School Ltd, which is owned by Josiah James Foulston.
It’s a community asset and it’s too important for people to just go
Josiah James Foulston is also the majority shareholder for Lat Holdings Ltd, a private limited company which controls more than 75 per cent of shares for MCM.
The unexpected closure has caused public outcry, with many left out of pocket after booking track days and other events demanding to know what will happen to their money.
Coun Bob Brierly, a long-term supporter of the race track who also raises money to provide karts, spoke about the future of the facility.
“This is my passion,” he said. “It’s the Three Sisters complex; it was built for motorsports. It cannot be sold off under the localism act. It’s a community asset and it’s too important to people for it to go.”
One customer, Andy Owens, had recently booked a party for more than 60 people who have now lost their share of £1,800 with no idea if it will be returned.
He said: “We were busy organising an event and now it’s gone bust. There’s now £1,800 of people’s money that’s gone missing. I have been a regular customer for five or six years now and we have done this once or twice annually.”
Manchester-based charity Speed of Sight, which provides driving experiences for the disabled, contacted the Post ahead of its next event in June.
John Galloway, who organised the day out, said: “We have been able to use the track at Three Sisters for the past few years, We have a track day already pre-booked and sold out. This is a total shock.”