Wed, 28 Jul 2010 | BUSINESS NEWS
HM Revenue and Customs has issued football club Sheffield Wednesday with a winding-up petition over an unpaid tax bill totalling £550,000.
The petition is yet another blow for the beleaguered club, which was relegated from the Championship last season. However, club officials are confident that the debts can be paid off and that Sheffield Wednesday fans should not be concerned that the club is to wind up.
A Sheffield Wednesday spokesman said, “We understand that HMRC is taking a tougher line in general with football clubs, but feel their actions are disproportionate and will raise unnecessary speculation as to the financial situation of the club.
"We can inform supporters that the club, working in partnership with the Co-operative bank and their advisors, will seek to settle this matter as soon as practical,” he added.
The Co-operative Bank, which helps to fund the club, said they were extremely disappointed by HMRC's decision regarding Sheffield Wednesday and said that they had been working hard for some time, along with investors and club representatives, to ensure its future stability.
The football club has struggled with financial problems since being relegated from the Premier League ten years ago and, according to reports, is around £26 million in debt. The majority of the debt is owed to the Co-op Bank, while former chairman Dave Allen is understood to be waiting for the repayment of loans amounting to £2 million.
The HMRC order will be heard in the High Court on 11 August.
Offering marquee hire from small to large this business services mainly the events industry, its own smaller marquee competitors and occasional work directly with individuals. They can support parties and weddings through to corporate dinners, festiv...
LEASEHOLD
This contemporary, stylish 4 star hotel has 24 comfortable and individually-designed ensuite bedrooms, a modern bar and a recently refurbished restaurant with a great vantage point and some of the best seaside views in North Wales.
This is an attractive and strategically well-located hotel in the heart of Porthmadog and a stone’s throw from the junction of the A497.
|
20
|
|
Dec
|
Electiva Healthcare looks pretty after cosmetic surgery deal | BUSINESS SALE
Private healthcare provider Electiva Healthcare has acquired...
|
20
|
|
Dec
|
Law firm HF could target M&A following PE investment | BUSINESS NEWS
Law firm HF could have its eye on acquisitions after sealing...
|
20
|
|
Dec
|
BMS buys insurance broker Peer DR&P | BUSINESS SALE
BMS Group, the independent specialist insurance and reinsura...
|
20
|
|
Dec
|
Derwent Windows opens door to employee ownership | BUSINESS SALE
Derbyshire-based Derwent Windows and Doors has transitioned ...
|
20
|
|
Dec
|
BMS buys insurance broker Peer DR&P | BUSINESS SALE
BMS Group, the independent specialist insurance and reinsura...
|
20
|
|
Dec
|
Law firm HF could target M&A following PE investment | BUSINESS NEWS
Law firm HF could have its eye on acquisitions after sealing...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.