A RIBBLE Valley stables that provided horses for the London 2012 Olympics is set to fight an order for it to be closed down.

The winding up order was served to Panama Sports Horses UK Limited but was stayed until 4pm on January 5 to allow time for the company to appeal the decision.

The case at the High Court of Justice in Manchester was brought against the Gisburn-based stables by Gisburne Park Estates, the landowner.

The business, which was set up by Carol Richardson 21 years ago, will be put into liquidation if the appeal fails.

The stables hit the headlines in March following the conviction of a reputed Glasgow gangster, who assaulted three men after a row at the site in October 2013.

Blackburn’s Magistrates heard how Frank Carberry attacked the men alongside his pregnant daughter, Nekole.

The court also heard how the tenants of the stables, Panama Sports Horses, had forfeited the lease owing £82,000 in unpaid rent to landowner Guy Hindley.

Mrs Richardson said: "We are determined to appeal this decision.

"At this present time the company has not be wound up and we believe that we will be successful in our appeal.

"This has been a very frustrating time for us and everyone is hoping that this matter will be resolved soon."

A spokesman for Gisburne Park Estates said: "The estate welcomes the High Court decision to order the winding up of our former tenant Panama Sport Horses (UK) Limited.

"The estate is not a place where criminals and habitual debtors are welcome.

"We trust our sentiments are echoed by all the law abiding businesses and residents of the Ribble Valley."

The stables are named after the hat Mrs Richardson's husband was wearing while bidding for a horse more than 30 years ago. Situated on the Pennine Bridleway, the yard was also the training ground for the horses used in the 1952 Helsinki Olympic Games.

The case had been due to be heard by the court in Bridge Street West in Manchester in September but was adjourned.