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Thursday, 12 June 2014

Hearts Football Club out of administration

The troubled football club has been in administration for the last year after falling into £30 million of debt.

Yesterday, news finally arrived that the club has officially been taken out of administration after exit documents were finalised with the Court of Session in Edinburgh.

The club's fans (Foundation of Hearts) rallied together earlier this year to develop a business plan, resulting in thousands of Hearts fan pledging to pay monthly payments. The club was taken over by BIDCO and now Executive Chairwoman, Anne Burge, to see it through the administration process and into a CVA.

For more details on this story, see our news piece: http://www.companyrescue.co.uk/latest-news/hearts-fc-exits-administration-into-cva

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