Livingston FC slides into administration
Scottish premier league side Livingstone has become yet another casualty of the crisis in UK football finances, sliding into administration yesterday.
Administrators from corporate recovery firm Kroll have been appointed to the club, which is currently sitting fifth in the SPL and has also qualified for the CIS Insurance Cup final.
The club is one of the newest in the SPL, having been established in 1995. According to administrators, ‘the cause of its financial crisis is as a result of high overheads that were not matched by the revenue coming into the club’.
A spokesperson for the administrators said: ‘Unfortunately, despite the best efforts of all involved, Livingston’s cash-flow problem has become increasingly acute. It became clear that it would not be possible to achieve a solution to the club’s financial problems in an appropriate time scale, without the protection afforded by administration.’