BusinessBusiness RecoveryLuton Town FC enters administration

Luton Town FC enters administration

Luton Town appoints football insolvency expert Brendan Guilfoyle as joint administrator

Administrators have been appointed at troubled football club Luton Town.

It has been a bad week for the club, entering into insolvency proceedings
just days after the club’s former directors were
charged by the FA
relating to rule-breaking deals over player
contracts.

Experienced football insolvency expert Brendan Guilfoyle, of the P&A
Partnership, was one of three administrators appointed to the club.

The appointments were made after the club’s finance director said the club
could not continue due to its decreasing income and escalating liabilities.

Guilfoyle will lead the search for buyers for the club.

‘The survival of this historic club will depend on finding a purchaser. We
will do everything we can to find such a buyer,’ said Guilfoyle.

The administration is not affected by the charges standing against the club
and its former directors, he added.

But the club has been deducted ten points under League One rules, which
currently puts it into the relegation zone.

Guilfoyle worked alongside Ernst & Young’s Garry Wilson (now of Endless)
at Leeds United, rescuing the club from its first insolvency, which culminated
in the club paying off its creditors back in 2005.

Further reading:

Leeds United clears its
debts

Overview: Luton Town FC’s former FD
under investigation

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor