Hawthorne Race Course filed for Chapter 11 bankruptcy Friday in an attempt to restructure its debt, attract a new investor and ultimately save the struggling horse racing industry in Illinois.
The filing comes a month after the Illinois Racing Board suspended the 134-year-old Stickney track’s harness racing license because of financial strains. Horse owners, trainers and breeders have gone unpaid since August, with more than 65 horse owners showing at least $580,000 in bounced checks from Hawthorne since then, according to the Illinois Harness Horsemen’s Association.
“This is a difficult day for Hawthorne and for my family which has owned Hawthorne for four generations over 117 years, but filing for reorganization is the right thing to do for the Illinois horsemen and for our employees and their families,” said Tim Carey, president and CEO of Hawthorne Race Course.
