In August the club had looked doomed after creditors started proceedings to reclaim their money and the club’s directors said it was ‘unlikely’ it could secure the necessary injection of funds to continue trading.
But late last week the club revealed that a takeover had been completed and approved by the RFU. The deal involves the birth of a new club, with the old one to go into administration.
Martin Jenkinson, director of the new Rotherham Titans Rugby Union Football Club, thanked investors including Rotherham borough council for saving the club.
‘Today marks the birth of a new club, which will draw on the best traditions and practices of the former and use that experience to take it forward,’ he said.
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