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Sheffield Wednesday face court action over unpaid VAT bill

Wed 10th Nov 2010 | Football Club Administration

Troubled club Sheffield Wednesday are facing a second winding-up order from HM Revenue and Customs over an unpaid tax bill.

The Owls are due to face a winding-up order over an unpaid PAYE tax bill of approaching £600,000 on the 17th Nov, but have now been hit with similar order over a VAT bill of around £300,000 according to the BBC..

They are expected to hear the case on 1st Dec and it is looking increasingly likely that the club could be forced into administration if talks with potential investors do not result in a takeover.

The club had been in talks with Certified Oil Rentals, who the pulled out of the deal with last week. This has left the club in a precarious position but the club remains outwardly confident it will be able to find the necessary investment to stave off administration.

Chairman Howard Wilkinson told supporters earlier this week that he and chief executive Nick Parker were working closely with the club's bankers, The Co-operative Bank, to deliver a long-term investment deal.

The club's official website reported Wilkinson as saying: "As we speak there are a number of potential investors who are in advanced negotiations with the bank and the club ... we are all very mindful of the upcoming HMRC case, and in many ways this acts as a line in the sand for all parties.

"What will ultimately happen I do not want to speculate, apart from to reaffirm there are now serious options open to us and the bank."

 

 

 

 

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

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