BusinessBusiness RecoveryLeeds manager to be liquidated

Leeds manager to be liquidated

Leeds United's management company, World Sports Solutions, is in the throes of appointing liquidators after announcing it was unable to continue trading because of its liabilities.

Link: Swansea appoints Robson Rhodes administrators

In an announcement made last night on the Stock Exchange’s regulatory news service, WSS said it was ‘advised that it cannot, by reason of its liabilities, continue its business.’

WSS will hold an extraordinary general meeting with its creditors and shareholders on in two weeks to voluntarily wind up the company.

A spokesman told Accountancy Age the board was ‘looking at several options’ and would put its decision to a vote at the upcoming EGM

On Wednesday, the company’s shares were suspended pending ‘financial clarification.’ But signs of turmoil were visible early in February, when chief executive Michael Farnan resigned as chief executive officer and left suddenly 15 days after the first board change announcement. Originally, he had intended leaving in August.

Farnan was replaced by Matthew Patten with immediate effect.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

3d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

3d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w 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