Article Taxonomy: Administration

Articles about football clubs facing or going into administration.

Poppies survive, Knitters disappear

by

Kettering Town have had their winding-up order rescinded at the Royal Courts of Justice in London. The Poppies were appealing the decision to wind the club up over a debt of £58,000 owed to Rushden & Diamonds (2008) Ltd a month ago.

The winding-up order has been rescinded and is set to be dismissed in 28 days, subject to Kettering paying off the agreed amount with Rushden & Diamonds (2008) Ltd.

The club has had to pay more than it originally expected. However, supporters from around the world rallied round and along with the Poppies’ Supporters Trust raised £20,000 towards the costs.

Knitters unravelled?

by

Former Hinckley United chairman Keith Downes has urged the club to negotiate with him as they face a winding up order in court in Birmingham on Friday. Downes, as trustee of the family pension fund, claims that they are owed over £187,000 due to unpaid rent on the building behind the main stand which houses the boardroom, club office, changing rooms and bar

Sisu owners prosper

by

Coventry City may now be playing in Northampton, but the owners of the SISU Capital hedge fund are doing reasonably well, according to a recent issue of Private Eye.

Recently filed accounts for SISU Capital show that chief executive and major shareholder Joy Seppala shared with Dermot Coleman £359,432 during 2013 in drawings from their limited partnership interests, compared with £139,000 in 2012 and £145,000 in 2011.

Kettering Town wound up

by

Football clubs often go into administration to reorganise at the expense of creditors, but they are rarely liquidated, but that is what has happened to Kettering Town. The club was once one of the giants of non-league football and seen as a possible entrant to the Football League in the days when that was done by voting.

Sky Blues fans demonstrate outside Sisu offices

by

A small group of Coventry City fans were shown on Central Television last night demonstrating outside the London offices of hedge fund Sisu who control the club through one of their companies. They had some very pertinent questions to ask, but unfortunately they are unlikely to get any answers, particularly from the head of Sisu whom they would like to meet.

Crucial errors made by Football League over Coventry City FC

by

A Coventry Evening Telegraph investgation has revealed serious errors in the handling of the administration of Coventry City FC, in particular relating to the assignment of player registrations to the right company.   In a statement Arena Coventry Limited (ACL), the operator of the Ricoh Arena, described it as a ‘crucial’ development in the long running saga.Football League chairman Greg Clarke has argued that the league’ s actions have been guided by its principal objective of keeping the club alive.