BusinessBusiness RecoveryLivingston FC slides into administration

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.

Link: Scottish football finances in terrible state

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.’

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

7d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

7d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor