undercovershrimper
Director
Southend United Football Club (The) Limited
Dear Insolvency Team,
In response to your decision to file a Winding Up Petition against the above, you really have opened a can of worms that you weren't expecting. Fans of the club have been put through the wringer to an extent that you cannot possibly fathom over the last few years all due to one man namely Ron Martin, by issuing the WUP all you have achieved is to **** off several thousand people who have had to put up with more than enough already, through no fault of their own.
We are prepared to protest loudly and proudly outside your offices and The Rolls Building in order for you to see sense and to actively engage with both The Shrimpers Trust and COSU. All with the aim of getting you to withdraw the petition that you filed.
I have every sympathy with your position and I am sure the consortium will pay Ron Martin's historical debt in due course once Southend Borough Council have finished the processes required in order for the transaction to be finalised which should occur by the end of this calendar month. The consortium have already invested over £3M into a club that they do not yet legally own.
Your actions this week are considered by a large majority of fans to be in bad faith and also shortsighted and I hope you can see the error in your ways and take the appropriate remedial action.
I would consider the reputational damage that could be done to Stewarts Law LLP by not taking the actions mentioned above, Southend United Football Club is a cornerstone of the local community providing employment and enjoyment to many, do you really want the closure of a club that has existed since 1906 to be laid at your door because you couldn't wait a further couple of weeks for payment? Not to mention the hardship you will cause to employees of the club and their families and the club's suppliers.
Having studied your accounts on Companies House I can see you made a profit of over £47M in the last financial year, you really cannot be that desperate for £450k for you to have taken the steps you have. I besiege you to reconsider your position and take on board the possible ramifications of not doing so.
The Consortium attempting to purchase the club are good people who want to do right by their creditors once they are in a position to do so. All other creditors have agreed to wait for payment apart from yourselves so this in itself should tell you a lot.
Please do the right thing and actively engage with people who are simply trying to do their best in circumstances that are far from straightforward, a little dialogue and good will would go a long way!
Email to insolvency@stewartslaw.com
cc ajay@stewartslaw.com, sdench@stewartslaw.com
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