Plymouth out of administration
Submitted by WG on Fri, 28/10/2011 - 13:22
After eight months Plymouth Argyle have finally come out of administration with the sale of the club to James Brent's Akkeron group. They will exit via a Company Voluntary Arrangement which will involve agreed payments to creditors over a five year period.
The sale of the club was delayed by a last minute wrangle over fees due to the administrators and the lawyers. They had offered to waive 50 per cent of their fees and it is not known if any further concessions were made. Argyle supporters had been making contingency plans to protest outside the offices of the administrators, P & A Partnerships, in Sheffield.
The long nightmare is over and now the club can focus on climbing off the foot of Division 2.
