Neath Rugby Club pays ultimate penalty

Neath Rugby Club pays ultimate penalty

Welsh rugby side Neath, now known as Gowerpark Ltd, has gone into liquidation following a severe reduction in funding and high players' contracts.

Link: English rugby finances all black

John Wynn Davies and David Hill, partners at the Cardiff office of Begbies Traynor, have been appointed joint liquidators to Gowerpark, which owes in excess of £750,000, including £157,000 due to the Welsh Rugby Union, £223,000 due to the Inland Revenue and £134,000 due to Customs and Excise.

Directors at the club blamed its insolvency on a combination of a severe reduction in funding from the Welsh Rugby Union following the game’s restructuring earlier this year, and high players’ contracts.

The Club employed 40 permanent staff including 37 players along with over 47 temporary staff on match days.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource