The club will now be run by business recovery specialist Barry Ward, formerly of PKF, after it was put into administrative receivership as a protective measure by the club’s ‘major creditor’.
In response, club secretary Cherry Newbery has appealed to supporters and commercial clients to support the club and renew season tickets, sponsorships and commercial packages.
The club has opened its ticket office from tomorrow (15 July) until the 19 July hoping to see supporters pledge their support and purchase season tickets in advance of the new season.
To date Oldham, Wimbledon, York City, Huddersfield, Port Vale and Ipswich Town have all slid into administration, while Leicester City, who has just won promotion back to the premier league, only recently emerged from administration.
A recent survey by Grant Thornton predicted that a premiership football club would collapse soon, as financial conditions in football continue to worsen.
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