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.’
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