The company behind Kingsbarn Equestrian Centre has been placed into provisional liquidation and the liveries at the centre have been asked to leave.
The move follows a row between the owner of the centre Jackie Kemp and investor Craig Fallon, a former scrap metal merchant.
Speaking to The Courier this week, a spokesman from Grainger Corporate Rescue, of Bath Street, Glasgow, said: “Unfortunately, there is insufficient income to sustain the overheads of the business.”
He confirmed the company behind Kingsbarn Equestrian Centre Jakem Ltd was placed under provisional liquidation on November 19.
A number of court hearings have since taken place in Falkirk with regards to the liquidation process, which will see the winding up of the business.
According to the spokesman, the current liveries at Kingsbarns have been issued with a two-week notification to vacate the premises set to a deadline of December 24.
He said the riding school horses under the care of the business have mostly been sold, but conceded there will still be a number of animals that will require relocation or alternative care as a result of the liquidation of the business.
When questioned how long this process could take, the spokesman said: “Unfortunately it is a case of being as long as a piece of string.”
He said whilst there has been “some interest” in the potential purchase of the centre, a decision will be made at a later date, by whichever company handles the liquidation of the business, as to whether assets are sold on the open marketplace.
The centre is widely regarded as one of the main equestrian competition venues for the country, hosting training and affiliated events across multi disciplines for all levels of horse riding.
BS, the affiliate body for the UK showjumping, confirmed it had cancelled all competitions at the venue with immediate effect.
“It is always sad to lose an equestrian centre, but businesses do come into difficulties,” said chief executive Iain Graham.
“Obviously, we very much hope the situation will be resolved shortly.
“However,” he added: “We have had three new indoor venues come on board to host BS competitions in Scotland over the last year so there will be plenty of alternative opportunities for competitors.
“We are working alongside the remaining BS centres in Scotland to quickly reallocate the dates that would have been fulfilled by Kingsbarn on the calendar.”
Ms Kemp, of Balmule, Dunfermline, recently became the subject of an SSPCA investigation into animal cruelty following the launch of a social media page entitled ‘Let’s Stop this Horse Cruelty’.
She has strenuously denied being cruel towards any animal in her care.
Ms Kemp was previously cleared of charges of causing unnecessary suffering to animals at a trial in November last year.
Kingsbarn Equestrian Centre first opened its ‘state-of-the-art’ facilities to Scottish equestrianism under the ownership of Stewart Aitken back in 2007 at a build cost reported to be in the region of £10 million. Dogged by financial issues, the centre went into administration and closed less than two years later. Ms Kemp re-opened Kingsbarn in the winter of 2009 under the business Jakem Ltd. The venue offers two international sized indoor arenas, 75 indoor and 90 outdoor stables, and has hosted countless national competitions across many equestrian disciplines over the years. Kingsbarn Equestrian has been home to more than 30 riding school horses and ponies, liveries and a string of top showjumpers. In its heyday, the centre also offered a tack shop, cafe and bar facilities, gallops and a split level all-weather outdoor arena spanning two acres.