PKF ADMINISTRATORS have nominated Portsmouth FC’s supporters as the preferred bidder for the collapsed club.
The club entered administration for the second time in two years on 17 February, with PKF partners Trevor Birch, Ian Gould and Bryan Jackson appointed.
Balam Chainrai was previously announced as the preferred bidder. However, it is understood that the Football League raised concerns over his ownership.
Birch (pictured) said: “After extensive discussions over the past few weeks, we have today nominated Portsmouth Supporters Trust as the preferred bidder for Portsmouth Football Club.
“We will be working with the Trust, the Football League and the Professional Footballers Association to conclude the sale of the club as soon as possible.”
A spokesman for the Portsmouth Supporters Trust told Accountancy Age: “We are delighted at the news. We were always confident that our bid was the best for creditors and the club going forward.
“Although we have some way to go until a deal is finalised, the hard work starts here and we are all looking forward to the challenge.”
Pixel Projects Limited (Pixel) has been sold by SFP, which has saved the positions of all 34 employees
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK