Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Plymouth Argyle FC fails to pay staff & player wages

Tue 30th Nov 2010 | Money & Finance

Plymouth Argyle Football Club have confirmed that both playing and office staff have not received their salaries for November.

The south coast club faces a winding-up petition from HM Revenue & Customs, and have until 8 December to clear their debts.

A club statement said: "Following the publication of the winding-up petition our bank has taken the normal step of suspending our banking facilities.

"The suspension will remain in place until the petition is dismissed or we obtain a validation order."

The statement continued "We are taking urgent steps to make progress on both fronts."

A validation order is granted by the court and validates payments made during the hiatus period of a winding-up petition, prior to a winding-up order being granted.

The club recorded a £2.8m loss for the 2008/09 financial year and were previously issued with a winding-up order for unpaid tax by HM Revenue & Customs last season.

Former Leeds and Cardiff chairman Peter Ridsdale was in Plymouth on Thursday holding talks with the Argyle board.

 

RETURN TO LATEST NEWS SECTION

 

SUBSCRIBE TO THE F.C. BUSINESS RSS FEED

 

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

 

 

 

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Watford FC: An Unlikely Financial Success Story?

Wed 26th Apr 2017 | Money & Finance

The business model carried out by the owners of Watford FC is unlikely to be adopted by too many sectors outside of football, but by hiring and firing a conveyor belt of managers, they have managed to...

Newcastle United & West Ham Face Tax Investigation

Wed 26th Apr 2017 | Money & Finance

Newcastle United and West Ham United have been targeted by HMRC for alleged Tax and National Insurance fraud. Officers are understood to have raided the offices at St James’s Park and the London...

Premier League Revenues Grow But Losses Return

Thu 20th Apr 2017 | Money & Finance

Premier League clubs’ revenues increased to a new record of £3.6bn in 2015/16, according to Deloitte, the business advisory firm. Analysis of the financial results of Premier League clubs...

7 Tips From The Best Online Football Merchandise Stores

Thu 13th Apr 2017 | Money & Finance

CEO, Lewis Holland and the team at DiscountIF team have been studying various merchandise stores of football clubs in the UK. This article was originally posted here. We’ve compiled a short list...