Sheffield Wednesday is to go into administration according to reports. A notice was filed with the Insolvency and Companies Court at the High Court on Friday morning and Julian Pitts, Kris Wigfield and Paul Stanley of Begbies Traynor have been appointed joint-administrators.
Staff have been briefed, while administrators also held a meeting with players.
The Owls are one of the oldest clubs in the world, having been founded in 1867. This follows the winding up petition that was served on the club last week by HMRC. HMRC are owed £1m.
The administration will result in the club being deducted 12 points and almost certain relegation.
The fans have been very angry with the clubs performance and have even boycotted home games. It has also been reported that player’s wages have not been paid on time.
Written ByRobert Moore
Marketing Manager
Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at RMT KSA to develop strategic marketing programmes to support the business plan and drive more company rescues.
A guide for redundant employees
A guide for redundant employees
Football Creditors Rule
Football Creditors Rule
What is the effect of a winding up petition on a football club?
What is the effect of a winding up petition on a football club?