Donington goes bankrupt

Donington Ventures Leisure Ltd., the company that owns the leasehold of Donington Park racing circuit, has gone into bankruptcy protection.

Corporate recovery company Begbies Traynor is handling the administration process, and is hopeful that DVLL will be bought by a third party with the aim of holding the British Grand Prix in 2011 reports Racer.com.

"We are certainly hopeful that a 2011 grand prix could take place at the site," said Nigel Price, a partner in Begbies Traynor. "We are looking for a purchaser for the business and the potential opportunity to bring Formula 1 to this part of the Midlands by funding the work that needs to be carried out to the circuit. It still remains a fantastic location – next to an airport and main motorway (freeway) connections. It needs people of vision to get the dream to the starting grid and we would be very interested in talking to interested parties."