Dundee FC lines up PKF partner for administration
PKF insolvency practitioner Bryan Jackson in line to take on the administration of Dundee FC
Bryan Jackson, partner in recovery and insolvency at PKF, was asked to take up the administration appointment earlier this month. Jackson will make an announcement later this week on whether or not he will take up the appointment.
He has worked on three football insolvencies in the past; Clydebank Football Limited, Motherwell Football & Athletic Club Limited, and Clyde Football Club Limited. He was recently appointed administrator of the Gadget Shop and conducted a review of the finances and operations of the Scottish Football League.
In September, the club confirmed monthly salary payments to all employees of Dundee FC were delayed, due to ongoing discussions between the club’s financial advisers and key stakeholders.
A statement from the directors of the club said it they had taken the decision to enter the club into administration with “considerable regret” and there was no other choice in the circumstances.
The club has various outstanding debts including a £365,000 tax bill, the Scottish Courier reports.
Dundee benefactor Calum Melville was to donate £200,000 to the club to help pay the tax bill, with that money now going towards the cost of the administration according to the publication.
Further reading:
Portsmouth see off HMRC’s CVA appeal
Administrator confirms Crystal Palace’s exit from administration
Southend United stave off administration in Sainsbury’s deal