Premiership side Hull City FC is looking to renegotiate its £35m of debts
over fears that the club could face insolvency.
The club, which is audited by Deloitte, is apparently negotiating loans with
creditors and hopes to make an announcement this week about its financial
Hull, which is likely to be relegated to the Championship, is owned by
Russell Bartlett who told the paper: “We face a tough period to trade through
the transitional period and readjust the business to life in the Championship
but I am confident we can do that.”
Following the last audit, Deloitte warned the club it could face a struggle
to continue as a going concern.
Chairman Adam Pearson has been tasked with trimming the clubs wage bill down
from £40m per annum to just £15m.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.