When we went into admin how much did we owe? £3 million?

Discussion in 'Bulletin Board ARCHIVE' started by Dyson, Feb 13, 2015.

  1. Dys

    Dyson Well-Known Member

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    Cheers.
     
    Dyson, Feb 13, 2015
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  2. Redstar

    Redstar Well-Known Member

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    Long term debt not sure, probably around that. It was the withdrawal of the overdraft facility by the NatWest that actually forced us into admin as we no longer had liquidity to trade with.
     
    Redstar, Feb 13, 2015
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  3. .:Tyke:.

    .:Tyke:. Banned Idiot

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    Don't think we had debt as such, it was more a preemptive strike, ITV Digital went bust, meaning they wouldn't be paying us, which ment we couldn't pay what we where contracted to so we administrationsed it
     
    .:Tyke:., Feb 13, 2015
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  4. e-red

    e-red Well-Known Member

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    I seem to remember that a figure of only £500,000 was mentioned and the bank withdrew support.
     
    e-red, Feb 13, 2015
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  5. andytyke

    andytyke Administrator Staff Member Admin

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    Sure it was no more 750k.

    I remember it being nowt compared to what teams owe these days.

    Its that book by john dennis , but I aint a clue what ive done with it
     
    andytyke, Feb 13, 2015
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  6. Redstar

    Redstar Well-Known Member

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    No it was the withdrawal of the NatWest overdraft.

    Add to that the "mistake" of not putting a certain offer to the shareholders and the 11th hour failure of a rescue plan and there you have it...
     
    Redstar, Feb 13, 2015
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  7. Jimmy viz

    Jimmy viz Well-Known Member

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    Just seen an article that states Man Utds debt has gone up to £380.5 million. The world is officially bonkers.
     
    Jimmy viz, Feb 13, 2015
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  8. tosh

    tosh Well-Known Member

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    Methinks the "mistake" was the bigger factor having discussed this several times with a then supposed shareholder who wasn't at all happy.
     
    tosh, Feb 13, 2015
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  9. Tyk

    Tyketical Masterstroke Well-Known Member

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    Barnsley. Stockport County. Coventry. Darlington.

    I'm sure there are others, but these are all clubs who've divorced the football ground ownership from ownership oif the club and gone from strength to strenth. It really is a formula for success.
     
    Tyketical Masterstroke, Feb 13, 2015
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