Please visit https://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Wednesday, 27 March 2013

Dunfermline rescued from liquidation almost..

Dunfermline fans are hoping to put the club into administration today by paying for Bryan Jackson, the football insolvency expert from PKF, who will try and stop it going into liquidation.  The threat is still there as HMRC are owed £134,000 and have issued a winding up petition.  This means that the club has to go to court in order to try and place the business into administration which would not have been the case in the absence of the petition.  If the club is in administration it will still be able to play albeit with a likely points deduction or demotion.

The club is £8.5m in debt and it is likely that it will be tough times ahead.

Former player and manager Leishman had been fronting a fans' group which had hoped, unsuccessfully, to find a solution to the club's crippling financial situation, with debt understood to be £8.5m. Dunfermline are believed to have until 5pm today to settle their tax bill. Otherwise HMRC will ask a court to wind the club up. The appointment of an administrator would offer the Pars protection from creditors while allowing the club to continue trading.

Tonight’s fixture against Falkirk, which will generate vital income, can now go ahead.


No comments :

Post a Comment

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

Web Analytics