The Debt.

[BWFC_Insane]

Framed differently, here's a question: would you rather we sell Zach Clough or go into administration?

Sadly it isn't an either or. .

You sure?

We get offered £600,000 - it pays the tax bill - no winding-up petition - no (immediate) administration.

No?

We go into administration, administrator must sell assets to pay bills...gets £200K bid for ZC....

[Jugs]

People say we wouldn't be able to turn anything down and that we'd only get peanuts for Clough.

But can I ask, What is the point in accepting peanuts/a few hundred thousand? What good would that money actually do for us anyway? Surely it's just a drop in the ocean. We need millions, not a few grand. I don't see the point in accepting a derisory bid.

We need £600,000 to pay HMRC that I believe is immediate priority.

Then servicing loans presumably Nucleus finance being top given their rights over our assets if we don't make the payments. Then paying staff etc etc....

The point would be keeping the club going a few more weeks if that is the chosen path.

Enter administration and control over those assets is lost anyway and the end result is the same.

God this is such a shite situation.

[Lost Leopard Spot]

Non-update from the London Gazette ( so you don't have to trawl through it). No petition for winding up order against any companies with any relationship to BWFC in the last twenty four hours.

Just out of interest why would the London Gazette know? Don't HMRC have quite large offices in Manchester? I thought any winding up would be run from there.

Either way, as DSB said, hopefully no news is good news.

Quite simply because it is the journal of record for the government, it isn't a 'newspaper'.
All legal dealings with regard to the UK must be published in it. ( which includes the Isle of Man, even though its not in the UK).(there is also a Belfast and an Edinburgh Gazette which are legal notices solely concerned with NI and Scotland, but they are irrelevant in this case as the HMRC based in England would be the one's issuing the petition).

[Lost Leopard Spot]

Framed differently, here's a question: would you rather we sell Zach Clough or go into administration?

Sadly it isn't an either or. .

You sure?

We get offered £600,000 - it pays the tax bill - no winding-up petition - no (immediate) administration.

No?

Yes.

But, from what I read in the Times there is the small, though less urgent matter (because of tax year ends and all that malarkey) of an outstanding VAT bill - someone somewhere said 2 mill. That is also a potential petition to wind up trigger. Depends how long it's been outstanding...

[BWFC_Insane]

Wonder if Quick quid fancy sponsoring us?

[Dave Sutton's barnet]

Framed differently, here's a question: would you rather we sell Zach Clough or go into administration?

Sadly it isn't an either or. .

You sure?

We get offered £600,000 - it pays the tax bill - no winding-up petition - no (immediate) administration.

No?

Yes.

But, from what I read in the Times there is the small, though less urgent matter (because of tax year ends and all that malarkey) of an outstanding VAT bill - someone somewhere said 2 mill. That is also a potential petition to wind up trigger. Depends how long it's been outstanding...

Cheers. I would hope this sorry-arsed mess doesn't drag on to the end of the tax year.

[Worthy4England]

Non-update from the London Gazette ( so you don't have to trawl through it). No petition for winding up order against any companies with any relationship to BWFC in the last twenty four hours.

Yup - I'd been checking that all week...

edit: https://www.thegazette.co.uk/" onclick="window.open(this.href);return false; if anyone else is bored enough...

[Enoch]

Nah.

Ta.

[Athers]

It will be a crying shame if we lose Clough, which I guess we will do due to relegation even if he's not sold for financial reasons. Best prospect in years (Vaz Te? Nolan?) and the whole point of that shiny academy. We'll probably get enough to keep the lights on

I personally think he's another Mark Davies. Bags of talent but he'll be a permacrock and far to small to interest anyone.

May be, but even if that's the way he turns out, Mark Davies was a PL player for years. I used Vaz Te as an example of a prospect which doesn't live up to hype/hope

Personally I think MD has probably been misused for his entire career, but that's another thread.

[Dave Sutton's barnet]

Lennon quoted on the BBC:

"I think Trevor [Birch] has a few plans in place to avoid that scenario [administration]. He's confident he can avoid that because that would mean we'd be a League One team and we'd just be fulfilling fixtures for the rest of the season.

What we need is someone to come up with the money and help the club out and just get us through a difficult period until January. However, what we may have to do in January is sell some assets in terms of the football side as well, that could be a realistic proposition. [...it could] mean doing things around the stadium and maybe selling bits off.

If that means getting the club through stormy waters then that's what we'll have to do. It's not ideal for a manager obviously for the position that we're in, but the club's future is the priority rather than the present.

[twilight]

https://twitter.com/YasminQureshiMP/sta" onclick="window.open(this.href);return false; ... 4627865600

Sorry if this has been shown, but apparently local MP's are getting involved

Edit: And also the link didn't work!!.....Apparently Yasmin Quereshi MP Has got involved sending a letter asking for the winding up petition to be delayed which is in January, until the 17th June 2016

[Dave Sutton's barnet]

https://twitter.com/YasminQureshiMP/sta ... 4627865600

[Bruce Rioja]

Never one to miss a passing opportunity to get her fizzog in the press, this one. How many matches has she turned out for, the self-serving cow?! She was sounding off about Syrian airstrikes last week, like what she has to say holds any sway.

[Dave Sutton's barnet]

Never one to miss a passing opportunity to get her fizzog in the press, this one. How many matches has she turned out for, the self-serving cow?! She was sounding off about Syrian airstrikes last week, like what she has to say holds any sway.

Surely as an MP, her say does? Also as an MP, she should represent the local community, when its club's in peril?

I've never heard of her before, no idea what colour her rosette is, but I'm glad she's inside the tent pissing out!

[twilight]

Thanks DSB

[Lost Leopard Spot]

Cheers twilight, DSB.
I'm left wondering though.
Firstly: HMRC are known as aggressive creditors. They have to be because one of the overarching Public Service Agreements that Linda Homer oversees in her capacity as Permanent Secretary of HMRC is "to improve the extent to which... business pays tax due...". And that letter reveals the fact that a petition to wind up is definitely scheduled (however, not quite as imminently as Nixon and Iles made out, but that again might be because BWFC have yet to fail to provide PAYE tax revenue due on the 20th of this month - if and when that fails to hit government coffers then the January timescale may well move forward).
Secondly: the second part of the PSA she is in charge of is "to improve customer experience of HMRC... and improve the UK business environment"
It would seem to me that the MPs letter is aimed squarely at point 2. It also seems to me that if I was PS of HMRC that point 1 would override it.

[Dave Sutton's barnet]

Oh, I daresay it won't help much. And she wouldn't be the first MP to hop on a bandwagon. But at the moment we need all the help possible...

[Bruce Rioja]

Never one to miss a passing opportunity to get her fizzog in the press, this one. How many matches has she turned out for, the self-serving cow?! She was sounding off about Syrian airstrikes last week, like what she has to say holds any sway.

Surely as an MP, her say does? Also as an MP, she should represent the local community, when its club's in peril?

I've never heard of her before, no idea what colour her rosette is, but I'm glad she's inside the tent pissing out!

I'm not.

[LeverEnd]

She was my mp when I lived in Great Lever and I was far from impressed. I think it's a step in the right direction that she's taking an interest in something actually in the town rather than keeping the Asian vote sweet by continually going on about the Middle East. Even if it is tokenism!

[Bruce Rioja]

She's a self-serving 4ucker and an utterly useless MP who latches on to any passing bandwaggon in order to increase her profile.

Anyway - This is now a real live happening thing. So much for Yasmin Qureshi's influence - we're 4ucked!

http://www.theboltonnews.co.uk/news/141 ... _tax_bill/" onclick="window.open(this.href);return false;