BusinessCompany NewsWrexham FC temporarily staves off liquidation

Wrexham FC temporarily staves off liquidation

League One football club Wrexham AFC has temporarily staved off the threat of liquidation and expulsion from the Football League.

Link: Insolvency specialist to help Wrexham FC

A statement on behalf of the club’s directors David Bennett and David Griffiths by its solicitors has announced that it has achieved this by petitioning the High Court for an administration order.

A statement for Walker Smith Way solicitors said that the decision was in the ‘best interests’ of the club, even though it could face a deduction of 10 points sending them to the foot of the league.

It said that faced with the alternative of the 132-year-old club ceasing to exist, seeking administration was the only option available.

‘This is not a solution to the club’s problems and is only a mechanism through which a solution can be sought. There is considerable hard work ahead and the directors are totally committed to continue their efforts if the club does enter administration,’ added the statement.

With debts of up to £2.5m and a winding-up order from the Inland Revenue for an unpaid tax bill of £800,000, Wrexham had until tomorrow (Wednesday 17 November) to make their position clear.

The date and time for the administration petition will be set by the High Court.

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