BusinessBusiness RecoveryPlymouth Argyle lines up administrators

Plymouth Argyle lines up administrators

Intention to appoint administrators will cost the club ten league points - even if they then decide against entering the insolvency process

ADMINISTRATORS COULD be appointed to Plymouth Argyle.

The football club issued a ‘notice of intention’ to appoint administrators as it seeks a solution to its cashflow problems.

While the move does not necessarily mean administrators will be appointed, the notice of intention means that under Football League rules the club will be deducted ten points.

“This action gives the club protection from insolvency action from creditors, whilst at the same time allowing the directors the opportunity to turn current expressions of interest into a permanent and lasting solution for the Club,” the board said in a statement on the club website.

 

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