Nottingham Journal - 12 February 1936

TRAINED RACEHORSES WHILE A PUPIL.
DERBYSHIRE VENTURE A FAILURE.

A deficiency of £1,365 was mentioned in the case of Denis Gilbert Young (26), racehorse trainer, of Ashton Lodge, Ashton-on-Trent, Derbyshire, when the first meeting of his creditors was held at the Nottingham office of the Official Receiver yesterday.
Young attributed his failure to "lack of capital, heavy overhead charges, and living beyond his means in the years 1932-1934."
His deficiency in January was estimated at £1,193, bad debts since that date were £210, household and personal expenses £156, and the amount paid and instalments owing in respect of a motor car on hire-purchase and now repossessed by the owner £156 16s. 8d.

Without Capital.

The Official Receiver's observations stated that Young, a single man, became a pupil to a racehorse trainer soon after he left school.
    Whilst a pupil he commenced, without capital, to train racehorses, principally steeplechasers, on his own account at Letcomb Regis, and eventually obtained a licence to train in his own name.
    In 1932 he took premises at Lonsdale House, Etwall, Derbyshire, and was successful during the first season.
    On the following season, however, his stable lost five horses through accidents and three other horses became unfit for steeplechasing.
    Young's affairs were left in the hands of the Official Receiver (Mr. A. J. Rogers).