The future of Leeds United is now not expected to be announced today, despite
KPMG would reveal which bidder had won control of the
embattled football club at noon.
A KPMG spokesman said the announcement was not expected today, and it could
not give a timescale for any decision. The firm also defended itself against
reports that it had not allowed other bidders (besides Ken Bates) full access to
the club’s accounts.
Administrators from the firm have been previously criticised by MPs over
their handling of Leeds’ insolvency, and now Bates’ rival bidders have joined
However, a KPMG spokesman said today: ‘We have worked within the bounds of
He said that the administrators from the firm found themselves in a situation
that was ‘fairly unique’, where an agreed CVA proposal had then been challenged,
and they set a short deadline to receive bids to resolve the club’s future as
soon as possible.
‘We wanted to allow bids, but the risk is that it protracts reaching a
resolution and the way forward for the club.’
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