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Swindon Town Near Insolvency

Swindon Town Near Insolvency

Swindon Town Football Club are only days away from liquidation after it emerged the club is desperate for funding.

Reports are circulating that the club is only 2 weeks away from going bankrupt after failing to meet its current financial obligations as well as paying its historical debts.

So far the club owes a £900,000 CVA that was due 3 months ago, £25,000 to Cheltenham Town for a fixture earlier in the season as well as a plethora of other debts which have yet to be revealed.

Best Holdings had wanted to buy the club but it is rumoured according to the Swindon Advertiser to cost them £18M to complete the deal.

The club is to appeal to its shareholders for more money otherwise face insolvency.



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Writer:Moonraker1969
Date:Tuesday October 9 2007
Time: 11:01AM

Comments

0
Where's all this come from? Normally when a club gets this close to the edge (Boston, Rotherham etc etc) the thing has been rumbling on for months. Surely its not at the winding up stage yet? And what a pity as you look to have a decent outfit this year. Good luck STFC!
Aston Smithy
09/10/2007 11:15:00
0
I could be quite cruel about this and laugh my head off...but we got through our financial troubles with not much more time to spare than you guys have. Considering what Leeds fans went through, I wish you all the best.
LUFC1
09/10/2007 11:15:00
0
Very sad. Hate to think of any club going through the crap we had to go through. Nobody is sympathetic all they want is for you to go under. I afraid they won`t get any help from any other clubs the F.a or football league.....surely its time that people pulled together when clubs are in trouble instead of trying to finish them off. Sorry Swindon but i don`t think you`ll find a Ken Bates whos willing to bend the rules, fight your corner, and stump up the cash. Even if they did, you then need the players and management staff to do the business while the Fooball League impose more ridiculous penaltys on you. Good luck Swindon, but i fear for you!
yorkshirepride1
09/10/2007 13:52:00
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