Further to the announcement that Farnborough Football & Social Club Limited entered administration today, the appointed administrator Kate Breese of Walsh Taylor and James Moore of Walker Morris, the administrators lawyer gave the following statements.
“I can confirm that I was appointed as administrator of Farnborough Football Club earlier today (26 April 2013) by way of court order following an application having been made to court by the club director this morning. This action was taken so as to protect the club from being wound up after HMRC issued a winding-up petition against the club. The administration will now provide protection for the club whilst a buyer is found.
My primary objective as administrator is to secure the immediate trading of the club before speaking with any parties who are interested in acquiring the club out of administration. In this regard, I would urge all interested parties to contact our office (Walsh Taylor – 0871 222 8308) immediately. The position that the club currently finds itself in requires urgent attention and therefore it is in the best interests of all concerned to make contact immediately if they have an interest in acquiring the club.
Those connected with the club will be aware that this Saturday’s fixture against Chelmsford City is the final game of the season and a vital source of revenue for the club at this present time. As such, I would urge all supporters of the club to try and attend Saturday’s game so as to increase income which will all go towards trying to secure the club’s future. The club needs it’s supporters at present and it would be great to see a good attendance at tomorrow’s game.”
Kate Breese of Walsh Taylor and administrator of Farnborough Football & Social Club Limited
“The club has struggled under the weight of historic debts recently and this has culminated in a winding-up petition being issued by HMRC. The club’s future and the prospect of the club being wound up could not be risked and therefore action had to be taken to protect the club which is why the administration application was issued at court. The club now has an opportunity to be rescued via a sale out of administration.
The club is now expected to receive an immediate 10 point deduction which will apply this season. This is a huge positive for any buyer as the club will retain its position in the Football Conference South without a points deduction next season, provided that all other Conference requirements are satisfied.
This is a club with huge potential. Few if any club’s have use of a ground of this quality at this level and in the circumstances, despite recent financial difficulties and the points deduction suffered earlier in the season, the first team have done exceptionally well on the pitch. But in order to preserve the club’s value, interested parties are urged to contact the administrator’s office immediately for further information”
James Moore of Walker Morris, the administrator’s lawyer