Liquidation threat hangs over Wimbledon FC

Liquidation threat hangs over Wimbledon FC

Creditors at troubled Wimbledon Football Club will vote on 18 March whether or not to accept a takeover bid or send the club into liquidation.

Link: Football finances survey

A consortium, InterMK, led by music entrepreneur Pete Winkleman, is bidding to buy the club.

However, creditors are owed £25m and if no deal is sorted out, liquidation could follow for the club which is anchored to the bottom of division one of the Football League.

‘The future of the club depends on the decision of the creditors,’ said a statement from administrators, Andy Hosking and Nick Wood, partners at Grant Thornton.

They added: ‘We are pleased to announce that we have reached agreement with InterMK and are finally in a position to submit a company voluntary arrangement (CVA) proposal to the creditors.

‘If the creditors accept the proposed CVA then Wimbledon FC will pass to the new owners on 18 March 2004.

‘If the proposal is not acceptable to creditors then we will have no option but to place the club in liquidation.’

Related Articles

More bad news for Debenhams

Business Recovery More bad news for Debenhams

3w Emanuela Hawker, Reporter
Insolvency and corporate governance

Business Recovery Insolvency and corporate governance

1m Chris Laughton
Impact of Brexit on restructuring and insolvency

Business Recovery Impact of Brexit on restructuring and insolvency

3m Emma Smith, Managing Editor
Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

9m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

9m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

10m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

10m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

10m Emma Smith, Managing Editor