The Rowallan Activity Centre in Fenwick, Ayrshire, is in administration. But owner Lord Rowallan said all shows and classes held at the centre will continue as usual and he hoped the situation would be short-lived.
In a statement, the peer said Rowallan “unexpectedly” went into administration on 19 June, due to the financial problems of parent company, Rowallan Holdings.
Administration protects companies from their creditors, while a restructuring plan can be worked out.
“Rowallan Activity Centre is in administration, but not receivership and the directors are working with the administrators to ensure the smooth running of the centre,” stressed Lord Rowallan.
There have been no redundancies and no effect on the day-to-day running of the centre, he added.
Rumours of money problems at Rowallan have been circulating for a couple of years.
The business, which comprises a livery yard, as well as the show centre, with bar, restaurant and shops, was put up for sale for £16.5m in 2010, but taken off the market soon after.
This news story was first published in the current issue of H&H (26 July 2012)