Southend - Possibility of administration tomorrow!

[Horsham Gull]

Have a high court hearing tomorrow and could be placed into administration

The Shrimpers owe nearly £700,000 in unpaid taxes and, if they go into administration, will be docked 10 points by the Football League.

They still face a high court hearing on Wednesday, when they could be placed into administration.

But Shrimpers chairman Ron Martin has turned down the offer from a group of local businessmen.

Southend are understood to have overall debts of £2.1m.

SHIT just looked a 10 point deduction would be a big drop from 10th to 23rd for them

 

[seagullsdaz]

Surely if the chairman has rejected an offer from the said local businessman then they must be ok. right?

 

[pishhead]

Surely if the chairman has rejected an offer from the said local businessman then they must be ok. right?

Without knowing all the ins and outs I would say that the valuations on the land upon which the ground lies differ between the two parties. I could be wrong.

 

[saafend_seagull]

Surely if the chairman has rejected an offer from the said local businessman then they must be ok. right?

The chairman has written off £8m of debt. He doesn't want to sell this for £1 and lose the project he has been working on. Also their offer involved removing Ron Martin.

admin v likely, lets snap barnard and laurent up

 

[Hockley Blues]

The chairman has written off £8m of debt. He doesn't want to sell this for £1 and lose the project he has been working on. Also their offer involved removing Ron Martin.

admin v likely, lets snap barnard and laurent up

That may be the case, but he' been charging an extortionate rent on both Roots Hall and the training ground.

 

[saafend_seagull]

Then why do all southend fans i know praise him like he is the best thing since slice bread

 

[Hockley Blues]

Then why do all southend fans i know praise him like he is the best thing since slice bread

I was also one of those fans.

But for Martin to gamble our future on Sainsbury's coming up with the money for Roots Hall is crazy. Your fans of all people know how long the planning process can take, so it's no supise planning permission for the Roots Hall Sainsbury's development has been delayed - and consequently, so has their down payment.

 

[Bevendean Hillbilly]

I was also one of those fans.

But for Martin to gamble our future on Sainsbury's coming up with the money for Roots Hall is crazy. Your fans of all people know how long the planning process can take, so it's no supise planning permission for the Roots Hall Sainsbury's development has been delayed - and consequently, so has their down payment.

There was a headline in the Southend Echo last night saying that the offer of £150mil was delivered to Fruits Hall yeasterday.

 

[saafend_seagull]

case adjourned, but rumours are now they have to give the full 2.1m by monday.