Thu, 07 Jul 2011 | ADMINISTRATION
Troubled Northamptonshire football club, Rushden & Diamonds FC, has entered administration after last-ditch talks to save it fell through.
Administrators are now seeking “to realise property” owned by the club – aiming to sell as many assets as possible in order to make distributions to creditors. The club has been facing enormous financial troubles this year, that were made worse when they were omitted from the Football Conference for financial reasons.
AJ Clark, from the firm Carter Clark, has been appointed as administrator for the club and has said he is keen to make moves with creditors as soon as possible.
“I shall be preparing a report in connection with the affairs of the company, and proposals for achieving the purposes of the administration,” he said. “This will be made available to creditors within eight weeks of my appointment. A meeting of creditors, if appropriate, will be convened within 10 weeks of my appointment.”
Talks had been underway with a Japanese property firm that had been interested in investing in the company. Those talks fell through on Sunday night, however. The club’s chief executive, Steve Beasant, quickly issued a statement that the club would be placed into administration by the owners of its homeground, Nene Park, based upon their powers under historic legal charges over the club.
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