A Middleham racing yard is to remain open despite insolvency proceedings being launched.
Liquidators have been appointed to oversee the voluntary winding up of Micky Hammond Racing Limited.
Documents submitted to Companies House show the company has debts of almost £400,000 including more than £330,000 owed to HM Revenue and Customs.
The liquidators were appointed at a meeting last week.
Former jockey Mr Hammond, who has trained at the Oakwood yard since 1997, said the company had suffered due the covid pandemic.
He said: “As with many other companies throughout the country, our financial difficulties were an unfortunate result and knock-on effect of the pressure and damaging effect of the covid pandemic.
“We incurred several debts from owners who were themselves experiencing financial hardship and after taking financial advice we unfortunately had no other option than to appoint an insolvency practitioner and cease trading in March.
“Moving forward, we feel that our top priority is the protection of our amazing team of staff and stable of horses, which has been very successful on the track over the summer months.
“To facilitate this, we now have a new company, new directors, and a long-term view of remaining a thriving part of the Middleham community.”