BusinessBusiness RecoverySurvival hopes fade for Bradford City

Survival hopes fade for Bradford City

Survival prospects appear to be dwindling for Bradford City after administrators from Kroll admitted that the football club could enter oblivion before the week is out.

Link: Administration looms again for Bradford City

A last ditch salvage attempt got underway on Friday, with staff deferring wages and the club’s local paper, The Telegraph & Argus, donating £10,000.

But administrators warned that without a significant injection of cash the club could close its doors in ‘as little as seven days’.

They told fans that they needed to raise £100,000 by the end of June to keep Bradford going through the closed season.

Kroll appealed to anyone interested in purchasing or investing in the club – which has debts of £30m – to contact them as a ‘matter of urgency’.

A meeting to arrange a creditors voluntary agreement had been scheduled for Friday last week, but the proposal was withdrawn after administrators said the club was ‘still not on a sound financial footing’.

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