At midday today representatives came to see us to inform us of their decision to close. This is the first we heard that they were going to take this decision.
The lease between the council and the racecourse has a further 17 years to run and the council remains willing to discuss options with the company for the continuation of racing in Hereford.
This is clearly a business based decision for Arena Leisure and Northern Racing.
We understand in discussion with them today that they have been running at a loss over recent years and their announcement and decision to close Hereford racecourse is based on their overall trading position.