Official Match Thread New HMRC Winding up Petition - Back in court TODAY (should know by around midday)

[Smiffy]

National league South here we come....

Isthmian League is now a possibility, unless we sort our financial affairs out, very quickly.

 

[Target man]

Isthmian League is now a possibility, unless we sort our financial affairs out, very quickly.

Maybe even the Southend combination.....

 

[palexander]

Can someone check in on PG Site Services.

 

[GBJ]

It was always going to be a matter of time before the next one arrived.

An adjournment would kick the can down the road, but with the National League AGM being held in June, and possibly before that rearrangement, our chances of remaining in the NL would have decreased somewhat.

Does administration look nailed on?

 

[Blues4LifeDan]

I thought HMRC said administration was long gone as we were too far down the road. Anna Firth even alluded to that in her zoom too.

 

[Ian Benjamin]

The problem is, we are millions in debt. We'd have to sell season tickets for the capacity of the Camp Nou ten times over to cover the debt. What we've put into the club (I renewed my ST last week) won't touch the surface unfortunately.

The most worrying thing is that the club owe the debt to HMRC. It's us being wound up, not Ron. The only small saving grace is that he can't have us wound up if he is trying to sell us. I wonder if HMRC will be appeased by evidence of a takeover in the hearing and the prospective buyers will pay the debt. One can hope.

But most of the debt is to Ron - this is external to shareholder loans - he should have enough working cash to pay the day to day costs - this isn’t about having enough cash to clear the £16m, it’s about having enough cash to keep your head above water.

 

[GBJ]

National league South here we come....

Isthmian League is now a possibility, unless we sort our financial affairs out, very quickly.

My understanding is that if the National League kick us out (on grounds that we might not be able to fulfil all of our fixtures) then Isthmian would be the destination.

What level of the Isthmian, I’m not sure. If it’s Prem, then we will be facing teams such as Canvey, Billericay and Hornchurch.

 

[Target man]

I thought SZ was dead a couple of days ago due to the season end and not much to debate...... good old Ron has woken the old girl up! This will be busy today I'm thinking!!

 

[Mad Cyril]

Despite huge attendances and loads of season tickets being renewed - Ron is still unable to balance the books. This is getting beyond a joke. Feels like administration is just around the corner.

You do not mention outgoings and I doubt anyone here has any idea what they are.

 

[Mad Cyril]

My understanding is that if the National League kick us out (on grounds that we might not be able to fulfil all of our fixtures) then Isthmian would be the destination.

What level of the Isthmian, I’m not sure. If it’s Prem, then we will be facing teams such as Canvey, Billericay and Hornchurch.

On the plus side it will save on travel.

 

[GBJ]

I thought HMRC said administration was long gone as we were too far down the road. Anna Firth even alluded to that in her zoom too.

I’m sure someone who is more versed in this field can clarify, but I think it goes on a case-by-case basis, so the parameters of the last one don’t necessarily apply?

 

[Jcd]

Bridging loan went well

 

[Target man]

Bridging loan went well

Thats the problem .... it went..... very fast!

 

[Smiffy]

And in amongst all of this, imagine being a member of staff that hasn't been paid for 2 months. What chance now of them being paid any time soon?

That man is a disgrace.

 

[Green Wizard]

I take it that no new season ticket money will be coming into the club in the near future.

 

[sufcfed]

Meanwhiles he’s still driving around in his Bentley.

 

[Tinks]

Oh FFS - just when you think things cannot get any worse along comes something else.
you would think we are all used to this now having this hanging over our head month after month but no - it still us like mad.
I was really optimistic when I read the club was for sale but let’s be honest what is someone buying ??????????

 

[Leeboy]

Meanwhiles he’s still driving around in his Bentley.

he's like Del-Boy in Only Fools - all front and image when really he is potless

 

[Danshrimper]

I thought HMRC said administration was long gone as we were too far down the road. Anna Firth even alluded to that in her zoom too.

The point made before was that administration isn’t a potential outcome of a winding up petition. The three outcomes are we pay and it’s dismissed, an adjournment, or liquidation.

That doesn’t mean we’re too far down the road to be put into administration. Although Ron would have to voluntarily put us into administration before the date of the hearing.

 

[Clinton Baptiste]

Where's the Freddy money gone??