Aldershot Town Exit CVA
Thu 31st Jul 2014 | Football Club Administration
Aldershot town have formally exited administration today, two years ahead of the required date.
A statement released by the club announcing the exit read, “The Board of Directors of Aldershot Town Football Club are delighted to confirm to Shareholders and Supporters that the Club`s administrators, Quantuma Restructuring, have signed the completion papers formally exiting our club from administration, and have disbursed funds to settle all creditors.
“This has been completed two years ahead of the required date.
“The Board took the decision to clear the old Club’s debts at the earliest opportunity, believing it was the right thing to do for our creditors, many of whom we recognise are long-term supporters of the Club.
“This brings to a close what has been a challenging Administration process, with a need to satisfy Conference rules to ensure probity in the game.
“We can also report that, as forecast in January, we have also delivered a modest profit in our first full year of trading. We hope these positive developments provide reassurance for staff, supporters and sponsors as we aim to steer our Club towards long-term sustainability.
“The Club will hold its Shareholders AGM in September to review this result.
“The continued support of our fans remains critical to our progress, but we can now look forward positively to the new season in the knowledge that our Club is in a stronger financial position than it has been for many years.”
Posted by: Aaron Gourley
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