BusinessBusiness RecoveryAdministration looms again for Bradford City

Administration looms again for Bradford City

Bradford City Football Club is to go into administration for a second time.

Link: Bradford City FC creditors accept rescue package

Creditors for the struggling Division One club have applied for administration after a feud between major shareholders at the club, the Rhodes family and former chairman Gordon Gibb.

Bradford, nicknamed the Bantams, only came out of administration in February 2003 after agreeing a creditors’ voluntary agreement (CVA).

The club was then rescued by the Rhodes family and Gibb.

But the ailing club, second bottom in the league, has now defaulted on CVA payments prompting the creditors to seek administration again.

David Rhodes said his family was ‘no longer willing to continue to gift any further funds to the club’.

Before last Saturday?s 2-1 home defeat of Crewe, Gordon Gibb addressed the crowd claiming he ‘felt let down by the family he worked with’.

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