Business Directory

Browse the Directory

Sign Up to the Directory

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

Plymouth given more time to clear debts

Thu 9th Dec 2010 | Football Club Administration

Plymouth Argyle Football Club have been given more time to clear its debts after appearing in the High Court Yesterday.

The club and a related company, Home Park Properties, faced winding-up petitions issued by HMRC over tax debts of £760,000.

Appearing in court yesterday, the club asked for 56 days' grace, but were given 63 days by the registrar.

According to the BBC, the club told the court they are in the process of refinancing and also have an investor who is ready to put £500,000 into the cash-strapped outfit.

They also claimed that the tax bill of £760,000 is too high and they can make payments to bring it down to £280,000 in January.

According to the club, they have £140,000 available in a bank account to help clear the debt, and that they are owed £48,000 by the Football League, which will be paid directly to HMRC.

A statement on the club's website said: "The board and its advisors are continuing to work through a number of potential answers in order to put the club on a sound financial footing.

"We are advised not to make any further comment at this time.

"When we have anything more to say we will advise you."






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

Notts County Ladies Folds Following Huge Debts

Fri 21st Apr 2017 | Football Club Administration

Notts County Ladies Football Club have folded after Alan Hardy admitted defeat in his bid to save the club which faced a near-£1million bill to stay afloat this season. The Notts County chairman...

Bolton Wanderers Sell Training Ground To Wigan

Fri 19th Feb 2016 | Football Club Administration

Bolton Wanderers have today confirmed the sale of its Euxton training ground to ‘another North West football club’. The Championship club have debts totalling £172.9m and are...

Northampton Town Application For Administration Withdrawn

Fri 11th Dec 2015 | Football Club Administration

Northampton Town Football Club has confirmed that the application for administration has been officially withdrawn. Legal agreements had been reached this week between the club and Northampton Borough...

HMRC Hands Bolton Wanderers Winding Up Petition

Thu 10th Dec 2015 | Football Club Administration

Bolton Wanderers have been handed a winding up petition by HMRC it’s been confirmed. The club, who are currently bottom of the SkyBet Championship, have debts of over £170m and have failed...