Administrators Mike Moore, Neil Brackenbury and Lee Manning of Kroll Buchler Phillips were on Thursday appointed at the High Court in Leeds. The board of Bradford City had initially hired the firm to advise it on May 10.
Bradford City, like the 71 other clubs in the Nationwide Football League, has been left out of pocket by the liquidation of ITV Digital, which owed the lower divisions £178.5m. It is estimated the television company’s collapse cost Bradford City £5m.
Mike Moore said: ‘Although the administration can be funded, there is limited money available and unfortunately it will therefore be necessary to terminate the contracts of many players.’
The administrators are now attempting to sell Bradford City as a going concern.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children