Chester football club wound up

Chester City football club has been wound up by the High Court over debts owed to Her Majesty’s Revenue and Customs.

The debt-ridden company behind the Chester City FC 2004, has been put in liquidation over an unpaid tax bill of £26,125 and at the hearing the club has now been wound up.

In January, the 56 year old club was given six weeks to finalise proposals for a company voluntary arrangement (CVA) aimed at enabling the club to clear its immediate debts – £26,125 of which is owed to the taxman.

City failed to fulfil their last two Blue Square Premier fixtures and were initially suspended, then kicked out of the league last month.

However, a fan base City Fans United, has vowed to start a new club in a lower league based on a model along the lines of AFC Wimbledon.

Meanwhile, Cardiff City has been given 56 days and Southend 35 days to settle their own winding-up orders.

Posted at 08:08PM Mar 15, 2010 by Kelly Board in Insolvency  |  Comments[0]

UK Air Travel Sees Record Low

UK airports saw their largest fall in passenger numbers in half a decade, falling by 7.4%.  This was the largest decline of its type since records began.

According to the Civil Aviation Authority (CAA) have also said that following the previous drop in 2008, this is the first time since the Second World War that the figures have dropped in consecutive years.

The decline is thought to be due to the substantial fall in holiday airline traffic, charter flights fell 17% as more and more Brits elected to beat the recession by holidaying in the UK as opposed to abroad. 

In total, UK airports carried 216.8 million passengers last year, the lowest figure in 6 years since 2004.  Domestic flights also fell by 8% whilst overall scheduled airline traffic saw a 6% drop.

Further to the falls, the CAA are also fearful that it may well be a number of years before any rebound or recovery is seen in the figures.

"Today's figures show the biggest fall in passenger numbers since the Second World War, highlighting the enormous impact the recession has had on the aviation industry," said CAA economic regulation director Harry Bush.

"Passenger numbers are now back to the level they were six years ago and, although they will certainly rebound, the pace of recovery is uncertain and it could be a number of years before they reach their peak level again."

Posted at 02:10PM Mar 15, 2010 by Marc Stenton in The Economy  |  Comments[0]