LongTimeLurker Posted January 7 Share Posted January 7 On NonLeagueMatters a poster has stated that HMRC have petitioned the courts for a winding up order and liquidation. Can't find that anywhere else. Has anyone heard that's happening? 1 Quote Link to comment Share on other sites More sharing options...
Burnsythebinman Posted January 7 Share Posted January 7 10 minutes ago, LongTimeLurker said: On NonLeagueMatters a poster has stated that HMRC have petitioned the courts for a winding up order and liquidation. Can't find that anywhere else. Has anyone heard that's happening? heard that getting talked about at our game on saturday 0 Quote Link to comment Share on other sites More sharing options...
Jan Vojáček Posted January 7 Share Posted January 7 1 hour ago, LongTimeLurker said: On NonLeagueMatters a poster has stated that HMRC have petitioned the courts for a winding up order and liquidation. Can't find that anywhere else. Has anyone heard that's happening? 55 minutes ago, Burnsythebinman said: heard that getting talked about at our game on saturday Was a Daily Mail article yesterday. Not sure if it's online or not: Spoiler FEARS are growing over the future of Edinburgh City after the struggling League One club were hit with a winding-up order from HM Revenue & Customs over unpaid tax debts. Facing serious cash-flow issues, the Meadowbank outfit culled a number of first-team players before Christmas and scrapped their women's and development teams. Bottom of League One with just nine points from 18 games, manager Michael McIndoe has been forced to field youngsters in recent weeks. The threat of a potential insolvency increased when HMRC applied to Livingston Sheriff Court to wind the club up and appoint a liquidator over unpaid debts of around £20,000 on December 11. The club had until January 2 to contest the petition or seek the appointment of an administrator to avert liquidation. Seeking answers over the matter, the SPFL have received no request for an advance of the distribution cash paid to all clubs and are now bracing themselves for the possibility of the club going bust and being docked 15 points with immediate effect. Chairman John Dickson, a local businessman, led a fan-based takeover from previous owner Tom Tracy in June and has sought to slash costs in a quest to save the club. Mail Sport was unable to contact the Edinburgh City chairman last night. However, in a statement issued on the club website before Christmas, Dickson apologised for the recent difficulties. 'When I first took over the club, it was with the intention of creating a sustainable model, which would grow organically and have community engagement at the core of its values,' said Dickson. 'Whilst the current position has been forced upon us, it must also be seen as an opportunity to recognise where we have gone wrong and make decisions accordingly. 'The board and I have been carrying out a full assessment of all football operations and, sadly, given the financial pressures on the club, we have taken the extremely difficult decision to withdraw our Lowland League Development and SWF Championship teams with immediate effect. 'Both moves are necessary, but nevertheless painful. However, my expectation is that these are temporary measures while the club stabilises and re-groups. 'SWF and the Lowland League have been made aware of our position and I appreciate their disappointment, given the disruption these moves will bring.' 1 Quote Link to comment Share on other sites More sharing options...
LeodhasXD Posted January 7 Share Posted January 7 Winding up orders are very public. https://www.thegazette.co.uk/notice/4517832 Didn't know the amount right enough. Some paltry research: Quote Reasons for HMRC issuing a winding-up petition could include: Unpaid Taxes: The company has accrued a significant amount of unpaid taxes, such as VAT, PAYE, or Corporation Tax. Previous Attempts Failed: HMRC may have previously attempted to collect the debt through other means, such as issuing reminders, demands, or even pursuing legal action like statutory demands. Severe Financial Distress: HMRC believes the company is in severe financial distress and may not be able to meet its tax obligations in the future. Failure to Engage with HMRC: The company may have not engaged with HMRC in a satisfactory manner to address the outstanding tax debt. Exhaustion of Alternative Options: HMRC may have exhausted other available avenues for recovering the debt. 0 Quote Link to comment Share on other sites More sharing options...
Vegetableman Posted January 7 Share Posted January 7 1 hour ago, LeodhasXD said: The company has accrued a significant amount of unpaid taxes, that part is a bit worrying ,but maybe it has been addressed by EC ? 0 Quote Link to comment Share on other sites More sharing options...
LongTimeLurker Posted January 7 Share Posted January 7 (edited) 20k seems like a relatively small sum of money to result in the outright liquidation of a League One club but don't know what sort of net worth the people running the club right now would have. Presumably if HMRC received their money after the mass player clearout the show will go on without any large point deduction or their record for the season being expunged (which would have been good news for Accies in terms of the title race but I wouldn't want to happen). Edited January 7 by LongTimeLurker 0 Quote Link to comment Share on other sites More sharing options...
Mon eh Ton Posted January 7 Share Posted January 7 Sportsound mentioned it briefly at half time in the Dundee Utd-Morton game yesterday, suggesting this was a formality for failing to pay tax and that it was anticipated that the tax bill will be covered by an upcoming regular payout from the spfl. 1 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted January 7 Share Posted January 7 (edited) 52 minutes ago, LongTimeLurker said: 20k seems like a relatively small sum of money to result in the outright liquidation of a League One club but don't know what sort of net worth the people running the club right now would have. Presumably if HMRC received their money after the mass player clearout the show will go on without any large point deduction or their record for the season being expunged (which would have been good news for Accies in terms of the title race but I wouldn't want to happen). Points deduction will be only come if they enter admin I believe. I would expect the club are trying to raise as much as possible to pay down the debt and at least get close enough to get a payment plan for the remainder agreed. The winding up order will be withdrawn if so. Things will get really serious if a hearing date gets announced, If you can't get funds in place then the next best option is to put in an interm request to enter administration, which a judge will hear before considering any winding up order. technically they can still hear the winding up order but its almost guaranteed to be withdrawn if admin is granted. Problem with administration is no administrator will take it on if they aren't certain they'll get paid themselves. Edited January 7 by parsforlife 1 Quote Link to comment Share on other sites More sharing options...
ObserverFromAfar Posted January 7 Share Posted January 7 1 hour ago, Mon eh Ton said: Sportsound mentioned it briefly at half time in the Dundee Utd-Morton game yesterday, suggesting this was a formality for failing to pay tax and that it was anticipated that the tax bill will be covered by an upcoming regular payout from the spfl. Doubt it's a formality when you spend a significant current income stream to pay historic significant debtor. Spells big trouble. Probably towards the end of the game for City. 0 Quote Link to comment Share on other sites More sharing options...
tamthebam Posted January 7 Share Posted January 7 LIVINGSTON Sheriff Court eh? Sure they haven't got the wrong club? 0 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted January 7 Share Posted January 7 26 minutes ago, tamthebam said: LIVINGSTON Sheriff Court eh? Sure they haven't got the wrong club? Wishful thinking. But you are a west Lothian club. it was just done more quietly this time. 1b Greendykes Industrial Estate, Broxburn, EH52 6PG (registered office 1 Quote Link to comment Share on other sites More sharing options...
AllyMonc Posted January 8 Share Posted January 8 Not an expert and no insider info on it but I think the winding up order sounds worse than it actually is. There is clearly a tax debt that needs to be repaid and HMRC are pretty good at going after these type of sums/entities (not so good at the bigger more sophisticated stuff). Winding up orders are part of that process. As others have said, I expect a payment plan to be put in place and the order to be withdrawn. Not good news by any stretch but not as bad as it might look at first glance. From my point of view we really need to avoid administration at all costs as I don't see how on earth we'd get out of admin if we entered it. Well, we'd get out of it by being liquidated but you know what I mean. 0 Quote Link to comment Share on other sites More sharing options...
tamthebam Posted January 8 Share Posted January 8 18 hours ago, parsforlife said: Wishful thinking. But you are a west Lothian club. it was just done more quietly this time. 1b Greendykes Industrial Estate, Broxburn, EH52 6PG (registered office Merger with Broxburn Athletic anyone? @Jordi1977 1 Quote Link to comment Share on other sites More sharing options...
Jordi1977 Posted January 8 Share Posted January 8 43 minutes ago, tamthebam said: Merger with Broxburn Athletic anyone? @Jordi1977 It is literally just along the road from Albyn... So we'll supply the stadium, the squad, the committee, the management, the name, the pies... and we'll have Ouzy on loan from your side! 1 Quote Link to comment Share on other sites More sharing options...
Vegetableman Posted January 8 Share Posted January 8 https://www.alloaathletic.co.uk/2024/01/08/club-statement/?fbclid=IwAR175j-dL5HQvDkcDpy7ADOMFPDhfpzR-bD1g7PI0gzpeQgvzReH3rbT0ls 3 Quote Link to comment Share on other sites More sharing options...
Parttimesupporter Posted January 10 Share Posted January 10 A couple of quick questions for the Citizens. I know seats are now unreserved. Having looked at the website it looks as if seats can be purchased in advance until the number for the away allocation is sold out, after which only standing tickets can be purchased. Is that right? I have a friend who is recovering from a bad accident who can only work short distances. If he contacts the Club to explain his circumstances will he and his wife be able to enter via the main stadium entrance? Thanks 0 Quote Link to comment Share on other sites More sharing options...
RubyTuesday Posted January 10 Share Posted January 10 9 minutes ago, Parttimesupporter said: A couple of quick questions for the Citizens. I know seats are now unreserved. Having looked at the website it looks as if seats can be purchased in advance until the number for the away allocation is sold out, after which only standing tickets can be purchased. Is that right? I have a friend who is recovering from a bad accident who can only work short distances. If he contacts the Club to explain his circumstances will he and his wife be able to enter via the main stadium entrance? Thanks Looking at Fanbase, the away allocation of seated tickets is sold out. For your friend, I'd suggest that he messages the club through the usual social channels or hello@edinburghcityfc.com with regard to access. And also if he needs a seat, I am sure that City would do their best to help. The away turnstiles are at the West end of Meadowbank, there will also be a way to access through the main Leisure Centre bit of Meadowbank as well. 2 Quote Link to comment Share on other sites More sharing options...
Parttimesupporter Posted January 10 Share Posted January 10 6 hours ago, RubyTuesday said: Looking at Fanbase, the away allocation of seated tickets is sold out. For your friend, I'd suggest that he messages the club through the usual social channels or hello@edinburghcityfc.com with regard to access. And also if he needs a seat, I am sure that City would do their best to help. The away turnstiles are at the West end of Meadowbank, there will also be a way to access through the main Leisure Centre bit of Meadowbank as well. Thanks. I see the allocation of seats for Falkirk fans has gone. Fortunately (?) I'm a Queens fan so it's that game I am asking about, but it certainly looks like first come, first served. Will take up your suggestion for my friend. Other than the two remaining games against Queens, best of luck to City for the rest of the season. Realistically relegation looks almost certain. Hopefully the new Board can get things on an even keel for the future. I'm friends with some of the folk who have worked really hard for City over the years, so would be pretty angry if it all went badly wrong due to the actions of others. 0 Quote Link to comment Share on other sites More sharing options...
tamthebam Posted January 11 Share Posted January 11 I notice Robbie Mahon has joined Dundalk from Motherwell. Talk of Dundalk remind me of this which a couple of City fans might appreciate: I’m cold and I’m hungry and I’m in Dundalk I’ve got no bus fare, I’ve gotta walk It’s raining soup and I’ve got a fork Where be my camper van? Well I’d like to meet Stephenson the engineer And I’d like to meet Faraday and buy him a beer And I’d love to meet the bloke who had the bright idea of Bob Wilson – anchorman 2 Quote Link to comment Share on other sites More sharing options...
ARF1928 Posted January 12 Share Posted January 12 Russell McClean has signed for Forfar on an 18 month contract… Good luck to them, he’s a complete cart horse who did not once look bothered while playing for us Aware he had a previous spell there but if Forfar get the Rusty we had, aka “do not care at all” then that’s a big waste of wages 0 Quote Link to comment Share on other sites More sharing options...
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