Link: York City FC rescued
The players, represented by Professional Footballers Association lawyers, applied last week to put the club into administration. It is believed the PFA has approached Begbies Traynor to take on the job.
The hearing to appoint the administrator, due to take place tomorrow, is likely to get heated because club chairman David Taylor has said he will apply to put in different administrators than those proposed. This is the first time players have attempted to take a club into administration, usually this step is taken by creditors – the banks, Customs & Excise or the Inland Revenue – or concerned directors.
On Monday, the PFA revealed the players were owed up to £300,000 in wages.
The second division team has debts of £6m and is facing relegation.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies