Wed, 27 Mar 2013 | ADMINISTRATION
Dunfermline Football Club has applied to enter administration over an unpaid tax bill.
HM Revenue & Customs (HMRC) issued the club with a petition for liquidation at the Court of Session regarding the bill of £134,000. The petition had a deadline of 17:00 GMT yesterday (26 March).
As the deadline expired, the directors of the club announced that their "only option is to place the club into administration". A group of fans have agreed that they will underwrite the administrators' fees if the application for administration is successful.
Jim Leishman, the club's honorary director, said that he is "really proud" of the group of supporters who have come forward to help with administration costs. He added that choosing to enter administration will give the club a chance to recover: "It was either liquidation, where you're done and dusted and you've nothing [or] what we've done. We're giving it a chance.
"It's good news; I wouldn't say we're saved – there's a lot of hard work to be done. We've underwritten the administrator and hopefully now he can do his job and we can look for the long-term sustainability of Dunfermline."
A statement from the club read: "The administration appointment is expected to take effect within the next couple of days and the directors have approached Bryan Jackson, of accountants PKF, to consider being appointed administrator.
"The directors have taken this decision with considerable regret but believe that they have no other choice in the current circumstances. Until the administration is effective all staff will remain in post and the club will continue to operate normally."
The club will face being docked points by the Scottish Football League as a punishment if the administration goes ahead, but there is not fixed amount of what this might be.
____________________________________________________________________________
Related articles:
Dunfermline Athletic issued with a winding-up order
Administration could be just around the corner for Scottish football clubs
Keep an eye out for football club failures
This well-established company offers temperature-controlled road haulage services across the UK and Ireland, specialising in groupage deliveries for industries such as food manufacturing. With a strategic consolidation depot in North West England, th...
This opportunity features a flexible IoT software platform with intelligent sensors that automate processes and enhance efficiency while reducing costs.
This is a unique opportunity to acquire a well-established electrical design, installation, and renewable service provider with a strong regional reputation and recognised brand.
04
|
Aug
|
High-end Chinese restaurant acquired out of administration | BUSINESS SALE
Park Chinois, the high-end Chinese restaurant founded in May...
04
|
Aug
|
Leading accountancy and advisory firms merge to create national business | MERGER
Menzies LLP and Beever and Struthers, two of the UK’s ...
04
|
Aug
|
London lighting group acquires emergency lighting firm | BUSINESS SALE
A London-based lighting group has acquired an emergency ligh...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.