Wed, 18 Feb 2015 | BUSINESS NEWS
Birmingham City Football Club's (BCFC) parent company has gone into receivership.
Birmingham International Holdings Limited (BIHL) announced that it had gone into receivership, appointing three receivers from Ernst and Young. It reassured supporters and players that it had not began a winding-up petition and would continue to fulfil its fixtures in the Championship.
In a statement, BIHL said: “BCFC naturally recognises the impact which this announcement may have on itself and how it may be interpreted by its supporters, staff, media and the wider domain.
“The club therefore wishes to explain why the majority directors on the board of BIHL had deemed it necessary to take this voluntary but unusual course of action.”
The company said that the decision was a result of “fractious and inharmonious relations within the management” and hoped that by going in to receivership these issues could be resolved.
Ernst and Young added that their appointment at BIHL did not affect BCFC and the club would continue as normal.
The statement explained: “The appointment allows the receivers to be able to manage the day-to-day activities of BIHL, take control of its finances, carry on the business of the company and take such steps as may be necessary for the purpose of preserving the future of ... Birmingham City.”
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