The joint administrators of
County Football Club have defended themselves over fans’ anger at
the levels of fees they have charged.
Administrators in charge of the club said their fees were in line with the
normal rates and requirements of their regulatory body, and a “significant
amount of time” had been spent on operational matters to try and effect a sale
of the ailing club.
The defence by
Curtis directors John Titley and Paul Reeves was in response to a
planned protest march on 23 December by the club’s fans, which will pass the
firm’s office in Deansgate, Manchester.
The protest covers a number of aspects relating to their unhappiness at the
running of the club, and includes discontent at the firm’s reported fee rate of
£300 per hour – which could amount to a £300,000 bill, Accountancy Age
“…Outrageous, and COULD be the final nail in our coffin,” according to one
Stockport County website in relation to the fees.
Titley and Reeves have issued a strong defence of their efforts for the club.
A sale of the club remains their prime objective, and anticipated being
unable to fully recoup their own fees related to the job.
“As previously stated, despite incurring these substantial time costs to keep
the club operating and to secure a purchaser we have not received a fee to date
because any such fee depends on the outcome of the sale process. We have not
used available funds to cover our fees so that essential trading costs – mainly
salaries – can continue to be paid,” they said in a statement.
They also called upon the reported organisers of the march to contact them to
discuss their concerns.
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report
Mid-sized British firms are currently growing faster and generating more profit than their counterparts in Germany, France, Italy and Spain, despite uncertainty surrounding Brexit, says the report
UK private investor Endless LLP acquires the high street retailer, saving 840 jobs
Mark McMullen joins the private client services team from Smith & Williamson
Three new partners and seven business restructuring advisers have been appointed to the new Preston office