BusinessBusiness RecoveryHMRC wind up Chester City FC

HMRC wind up Chester City FC

Ian Rush's former club wound up by the taxman

Chester City Football Club has been handed over to the official receiver for
failing to pay its tax bill.

The club, where Ian Rush played in 1978 prior to Liverpool, was taken to
court on 27 January for a winding up petition brought by HMRC. The petition was
for £26,125.

Chester City was given a stay of execution for 42 days as they claimed they
were considering a Company Voluntary Arrangement, a formal agreement to repay a
percentage of outstanding debts.

This is the second time the club has had financial woes. Insolvency
practitioners from Refresh Recovery were called in to take the club through an
administration in May last year.

Administrators at Refresh managed to secure a sale of Chester City FC last
summer. The move was considered highly controversial as the former owners, the
Vaughan family, regained control over the club just weeks after it entered
administration.

“I feel very sorry for the way things have gone because Chester is a club
with great tradition,” said Rush.

Further reading:

HMRC
in talks over plight of Portsmouth FC

HMRC
to drop Andronikou challenge as Portsmouth administrator

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