Monday, 7 January 2013
Salford Reds Winding Up Petition Hearing Adjourned
Today the Salford Reds had another reprieve when the winding up hearing was adjourned as the club hopes to find a buyer.
In reaction to the decision, a club statement read: "This additional time has been granted following careful consideration of the current position regarding new investment into the business.
"All concerned parties agreed that there was a real possibility that a positive conclusion could be reached and that this would be preferable to the execution of the lodged winding-up petition." Salford are in debt to the tune of £600k and Salford Council turned down a rescue attempt.
HMRC, who are thought to be owed around £300k along with some unpaid wages from players launched the winding up petition.
So how is it possible to adjourn a winding up petition? Click on the link and go to our website.
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