Winding Up Petitions

[Shrimpers are Magic]

Frankly I’m amazed we and many clubs like us are still going. All the money is in the premier league and I simply can’t see clubs carrying on for much longer. I can honestly see many clubs becoming semi pro including ours.

 

[RHB]

Creditors get paid, not shareholders, until there are either no beans left to divide up or all the debts have been paid. As you’ve picked two of the only saleable assets the club has I’d say you’ll be disappointed.

Depends if they are preferential or non preferential creditors.

 

[Mad Cyril]

Creditors get paid, not shareholders, until there are either no beans left to divide up or all the debts have been paid. As you’ve picked two of the only saleable assets the club has I’d say you’ll be disappointed.

Thanks for clarifying.

I'll get some of my boys to stick them in the van at the next home game.

 

[AustScullyPriorPowell]

We need Glenn Tamplin to take over

 

[SeaSideDoughnut]

I thought the club was in a much better place in terms of operating loss... Add the three really good fees we've received in recent seasons and I honestly thought [over the last three years at least] we could've been somewhere near breaking even. I guess that was wishful thinking. Very disappointing news.

 

[RobM]

We need Glenn Tamplin to take over

No!! I'd rather do it myself!

 

[misty01]

https://www.telegraph.co.uk/footbal...edhanded-winding-up-order-hm-revenue-customs/

Is this one of those poop I should be worried moments? Not sure if mentioned before, but I can only assume this is serious!

 

[Blues4LifeDan]

It's funny because Powell said something the other day in an article, it was hidden by the other things he said.

Something along the lines of, 'it's been a hard time, things that people aren't aware of,' then went to talk about injuries etc.

Maybe he meant this, staff not being paid. It looked as though they weren't paid last night!

 

[Barry.C]

Any one got a clear view of when an embargo kicks in around these circumstances?

 

[HypoTypo]

Couple of things, being the industry I work in does exactly this, many companies hold money back to sit in the bank and earn interest and pay at the very last minute.
I'm not saying we have or have not got the finances but being the way players are (not) playing, no new players coming in (yet), no maintenance on the Hall being carried out, and the fact at a last report we were closing in on nearly 18 million of debt, I think the chances of us being screwed are quite likely.

Also, if you take the average gate as around the 5000 mark, average ticket is say £17 (which is roughly what it works out via a season card) then we are pulling in I would say about 85k per game (ish ... plus other factors like drink/food/director boxes etc added or subtracted into the equation).

Lots of injuries, so lots of medical bills, wages, coaches for away games, lost balls, pitch maintenance etc etc etc.

That 85k isn't going very far is it.

 

[RobM]

£85,000 x 23 = £2 million near enough per year = about £40,000 a week.

 

[HypoTypo]

£85,000 x 23 = £2 million near enough per year = about £40,000 a week.

Yeah not a lot in the bigger scheme of things is it

 

[NZamba Legend]

My view only, but I think this kind of thread should remain on the main chit-chat forum. It's too important to hide away on a lesser visited section of the board. Also, it directly effects the transfer thread for example.

 

[AndyT]

Someone, recently, pointed me in the direction of using the 'what's new' section, which covers every thread updates, so less is missed.

That said, I agree on this one, for sure.

 

[NZamba Legend]

Are we going to see a rerun of 09/10 season with another Southend legend hung out to dry?

 

[AndyT]

The reaction on Saturday will be telling.

It spoke volumes this time last year at the Fleetwood match.

A sleeves up fighting victory or a whimpering defeat. Could go either way.

 

[spoons]

Papers tonight reporting a winding up order for non payments
Reported in Daily Telegraph
Southend United have received a fresh winding-up order from HM Revenue and Customs over financial difficulties stretching back a decade.
The League One club faces a fresh High Court showdown with tax officials almost two years to the day since a judge threw out a bid on the basis that the owner had cleared debts.
During 10 years of financial instability, Southend were dealt around 10 winding up attempts by the taxman. Fans had hoped the club's financial outlook had improved since the club were last hit with a court summons in 2015.
In a new petition, the Gazette official public record website recorded that a new bid by HMRC, "claiming to be Creditors of the Company", will be heard at the High Court on Feb 6.

 

[HypoTypo]

WHO tweeted this

 

[Gt Yarmouth Shrimper]

Papers tonight reporting a winding up order for non payments

*Ahem* we've already got a thread on this subject.

 

[The Big Dady]

WHO tweeted this

View attachment 6977

Just checked and the full current form is shown below

Southend United v HM Revenue and Customs


08/12/2009 Southend United v HM Revenue and Customs = Southend United Win

16/02/2011 Southend United v HM Revenue and Customs = Southend United Win

18/02/2013 Southend United v HM Revenue and Customs = Southend United Win

22/03/2013 Southend United v HM Revenue and Customs = Southend United Win

21/05/2013 Southend United v HM Revenue and Customs = Southend United Win

03/07/2013 Southend United v HM Revenue and Customs = Southend United Win

18/07/2013 Southend United v HM Revenue and Customs = Southend United Win

28/08/2013 Southend United v HM Revenue and Customs = Southend United Win

18/03/2015 Southend United v HM Revenue and Customs = Southend United Win

07/04/2015 Southend United v HM Revenue and Customs = Southend United Win

06/02/2019 Southend United v HM Revenue and Customs = Forth Coming Fixture

Head to Head record

Southend United Wins: 10
Draws: 0
HM Revenue and Customs Wins: 0​