Hot on the heels of Crystal Palace Football Club's confirmation that it had fallen into administration after months of financial hardship, it's claimed Portsmouth faces the same fate unless a buyer snaps up the business in the next eight days.
The organisation fell short to the sum of £2 million as the transfer window closed last night, and not even the £3.5 million sale of keeper Asmir Begovic to Stoke will be enough to keep it afloat, according to sources speaking to The Sun.
It's thought the club has a £7.5 million tax and VAT bill that it hoped to pay by selling enough players before a High Court winding-up order next week.
A club insider tells the newspaper: "The end is very close. Unless someone comes in with a load of new cash within the next week, the club will almost certainly go bust. If the winding-up order is upheld, we simply can't pay the Inland Revenue."
Crystal Palace administrator Brendan Guilfoyle has said he's confident a buyer for the club will be found, claiming he is working "flat out" to sell a business he describes as an attractive proposition in spite of its financial problems.
The business is a specialist civil engineering and construction services, particularly within the rail industry. Provides rail and construction equipment hire services nationwide. Offers invited.
The business is a demonstrating considerable growth, with turnover increasing by over 115% across a three-year period. Strong work pipeline, with over £500k in contracted projects to be included in its YE18 turnover.
The business is a client base of c. 400 clients covering c. 2,200 sites across the UK, including many well-known blue-chip, high street brands and franchises. Most clients are on long-term contracts, with c. 80% of turnover being generated from recur...
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