Bradford City's future looks secure
Bradford City looked to have secured its future yesterday after the league one club had its company voluntary arrangement (CVA) approved.
Bradford City looked to have secured its future yesterday after the league one club had its company voluntary arrangement (CVA) approved.
Link: 2004 Football Finances survey
Neil Brackenbury and Mike Moore, joint administrators from Kroll, described the approval of the plan by the required 75% of creditors as a ‘significant’ step towards securing the future of the club, but they warned that a number of conditions remained to be fulfilled. They also praised employees and players for ensuring the club’s survival by accepting wage deferrals.
Brackenbury said: ‘Today’s meeting was an important step towards securing the future of Bradford City Football Club and we are very pleased that the CVA proposal has gained the necessary support from creditors.’
‘We will now be working closely with the new owners to fulfil the conditions upon which the proposal depends. In particular, to obtain the Football League’s agreement that Bradford City remains a Coca-Cola League One club. We have every reason to believe they will agree to do this.’
The numbers you crunch tell a story. Your expertis...
20yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn 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 resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article