Another Wind Up at Hillsborough
HMRC have lodged yet another winding up petition against Sheffield Wednesday Football Club. This is the third occurrence of this so far this season.
The petition has this time been submitted in relation to an unpaid bill of £600,000, however chairman Howard Wilkinson has remained calm about the situation as talks of a takeover continue to mount.
In the aftermath of relegation to the third tier of English Football, it is believed that the lost revenue that comes with is coupled a number of poor management decisions have caused the current plight of the underachieving Yorkshire club.
Before the last winding up hearing, the club were saved when the Co-operative Bank , also the clubs majority creditor, agreed to extend the overdraft limit in order to pay off the bill before the court date, no such agreement is likely to come into place this time around, as the bank are no longer willing to offer any more credit.
In an interview on local radio, Howard Wilkinson revealed that one of the potential investors in the club had offered to loan the money pay off the debt to HMRC as takeover talks continue, but refused to comment on which investor it was.
Wilkinson told BBC Radio Sheffield, "One of the three investors we are talking to got in touch last night and offered a facility in the form of a loan in order that the current situation with the HMRC was resolved and some of the uncertainty taken out of the situation.
"What we have got to do now is explore the feasibility of such a loan."
A fans forum was held last night by Chief Executive Nick Parker, who also took a similar stance, however he did reveal that the offer had come from an overseas oil company, but still wasn’t to be drawn out on rumours that the company is headed by the former Hartlepool manager and Wednesday player Chris Turner.
The hearing is due at court on 17 November, but Wilkinson has taken a calm stance and expects the matter to be dealt with well before then.
"I am hoping that this time we won't get to the last minute," he said.
Posted at 04:48PM Sep 30, 2010 by Marc Stenton in Insolvency | Comments[0]
