Motherwell FC emerges from administration
Scottish football club Motherwell has re-emerged from administration, after two years, following the approval of a creditors voluntary arrangement last month.
Although a buyer for the club has not been found, the club’s administrators, Bryan Jackson and Philip Long from PKF, said that enough money was raised from the sale of two players for the directors to put forward proposals to the creditors that resulted in them receiving a dividend payment on the sums owed to them.
‘We were appointed almost two years ago and the purpose of the administration, to preserve the ongoing company, has finally been achieved,’ said Jackson. ‘The directors have done a remarkable job in very difficult circumstances and working together we have proved that a period of administration can be run successfully. The club can look to the future in a very positive frame of mind.’