Administration and recovery

Where fellow sufferers gather to share the pain, longing and unrequited transfer requests that make being a Wanderer what it is...

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bristol_Wanderer3
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Re: Administration and recovery

Post by bristol_Wanderer3 » Tue Aug 27, 2019 11:19 pm

Horrible for Bury supporters. Really feel for them. Totally horrible...

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Re: Administration and recovery

Post by Burnden Paddock » Tue Aug 27, 2019 11:20 pm

feck! So sad! Dale had better not show his face in Bury again. Wanker!

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Re: Administration and recovery

Post by bristol_Wanderer3 » Tue Aug 27, 2019 11:20 pm

Worthy4England wrote:
Tue Aug 27, 2019 11:14 pm
So sad for Bury. I thought our 14 days was "notional" if Admins can't actually fund 14 days...
Which is why Appleton's supposed "change in stance" as reported by Nixon really needs fleshing out...

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Re: Administration and recovery

Post by Dave Sutton's barnet » Tue Aug 27, 2019 11:23 pm

DJBlu wrote:
Tue Aug 27, 2019 11:15 pm
Such miserable news.

Well done Steve Dale you utter, utter bastard.

Administrator will be liquidating in the morning then.
Two things.

One, Dale - dodgy as he is - only owns some of the blame, with his predecessor Stewart Day, who mortgaged the stadium ridiculously.

Two, the administrator threatened that he could start liquidating on Wednesday. Given his job is to get the best deal for creditors, and there's a deal being thrashed out, he's quite possibly culpable if he arbitrarily calls time. God knows we need the brinksmanship to end but I doubt it will be tonight and I doubt the plug will be pulled tomorrow.

Best guess is Mike James offers to pay wages, perhaps even with a covenant that if the club goes elsewhere he's refunded, then the deal gets done tomorrow or Thursday. Enough now.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Tue Aug 27, 2019 11:27 pm

Iles: "Talks with the Football Ventures consortium continued tonight, with hopes now high that a takeover can be completed quickly. Administrators had threatened to commence liquidation proceedings on Wednesday morning but with a deal now felt to be back within reach, that is considered unlikely, for now."
https://www.theboltonnews.co.uk/news/17 ... otice-efl/

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Re: Administration and recovery

Post by Harry Genshaw » Tue Aug 27, 2019 11:29 pm

Awful news. Never liked em but wouldn't wish this on them. Hopefully a phoenix club can be up and running for next season and they'll be back before long.

An added consequence for us - we'll lose a minor but much needed windfall with the cancellation of our fixture against them that was due to be on sky
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Re: Administration and recovery

Post by Enoch » Tue Aug 27, 2019 11:32 pm

Shit for them.

We'll be reet.

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Re: Administration and recovery

Post by DJBlu » Tue Aug 27, 2019 11:34 pm

https://www.bwfc.co.uk/news/2019/august ... anderers7/

They're working through the night.

Shit just got real.

EFL aren't fecking about. Now they know.

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Re: Administration and recovery

Post by KeyserSoze » Tue Aug 27, 2019 11:37 pm

Likely the liquidation processes will begin tomorrow?
#Jesuispratley

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Re: Administration and recovery

Post by Worthy4England » Tue Aug 27, 2019 11:38 pm

KeyserSoze wrote:
Tue Aug 27, 2019 11:37 pm
Likely the liquidation processes will begin tomorrow?
Not from recent statement.

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Re: Administration and recovery

Post by Worthy4England » Tue Aug 27, 2019 11:39 pm

Unless some last minute brinkmanship of course...

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Re: Administration and recovery

Post by Rip » Tue Aug 27, 2019 11:48 pm

Burnden Paddock wrote:
Tue Aug 27, 2019 11:20 pm
feck! So sad! Dale had better not show his face in Bury again. Wanker!
He's made it pretty clear he has no intention to, either way.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Tue Aug 27, 2019 11:50 pm

DJBlu wrote:
Tue Aug 27, 2019 11:34 pm
https://www.bwfc.co.uk/news/2019/august ... anderers7/

They're working through the night.

Shit just got real.

EFL aren't fecking about. Now they know.
We note the statement from the EFL lifting the notice of withdrawal of suspension and giving 14 days to find a solution and complete a deal for the sale of the club.

All parties have been in continuous dialogue throughout the day and are working closely together this evening in order to bring a deal to completion. We will continue to work through the night if necessary.

There will be a further update as soon as possible.
Iles: "I do not expect #bwfc's administrators to commence liquidation proceedings tomorrow morning, based chiefly on the fact they feel the deal is extremely close to being concluded. It would make no sense at all."

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Re: Administration and recovery

Post by TANGODANCER » Wed Aug 28, 2019 12:00 am

Commiserations to all Bury fans. Football rivalry apart, Bury is our next door neighbour and a football club with a proud history. So very sad that once again money has prioritised over football and the game lost out. I worked at Bradley Fold for 16 years with a lot of lads from all around including Bury. My first golf club was given to me by a Scots lad who got it from Bob Stokoe, then Bury player manager and a local legend. Hope they can, like the Phoenix, rise again and come back.
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Re: Administration and recovery

Post by Hoboh » Wed Aug 28, 2019 12:25 am

Awful for Bury really sad that football has come down to this. I'd guess there is some truth in money being the root of all evils.
Sky and the likes building up of a mass of a money swilling business attracting some chancers into football must shoulder some of the blame.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed Aug 28, 2019 12:26 am

Wayne Entwistle’s brother outside Gigg Lane. Hard to watch, this. Jesus.
CODE: SELECT ALL

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Re: Administration and recovery

Post by bristol_Wanderer3 » Wed Aug 28, 2019 12:49 am

Football authorities need to wake up two fairly recent developments imho.

1.) Being a multi-millionaire and being prepared to own a football club, no longer means that that person is honourable/successful and will take care of the club. Today, that person is just as likely to be a criminal / fraudster and can easily be looking at the club as his/her next grift.

2.) There isn't a huge deterrent to cheating the fans of a football club anymore. A rogue chairman won't necessarily be local and have thousands of fans breaking his door down. He can quite easily be thousands of miles away and not feel any heat.

Given this, and the way football finance lends itself to fraud anyway, there needs to much stricter governance from the top imho, that needs to include a regular financial MOT.

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Re: Administration and recovery

Post by officer_dibble » Wed Aug 28, 2019 7:23 am

Awful for Bury. What the hell do they do now? Start again in the northern counties? Feel for all the staff who have stuck with it. Be nice if we could offer some of them positions if we ever get our shit together.

Speaking of which.
Another 14 day deadline; presumably Gillingham will be pulled?

Liquidation - begin today? Or not whilst talks remain “optimistic”. Seriously Ken, you’ve taken it to the edge now, well done son.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed Aug 28, 2019 7:47 am

officer_dibble wrote:
Wed Aug 28, 2019 7:23 am
Awful for Bury. What the hell do they do now? Start again in the northern counties? Feel for all the staff who have stuck with it. Be nice if we could offer some of them positions if we ever get our shit together.

Speaking of which.
Another 14 day deadline; presumably Gillingham will be pulled?

Liquidation - begin today? Or not whilst talks remain “optimistic”. Seriously Ken, you’ve taken it to the edge now, well done son.
Once they’ve got their shit together, either Bury FC or more likely FC Bury (or similar) will have to apply to the FA for membership of a league down the pyramid. Northern Counties, if it’s still called that, is one shout. They might shoot for National League (either the national “division five” or its regionalised tier-six feeder National League North, but they have to be voted in by clubs who have their own ambitions to be something more than a walk-on in someone else’s heroic rebirth.

Gillingham is an away match thus much lower overheads. I think James might stump up the cash for the coach. Liquidation unlikely to start when a deal is so close.

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Re: Administration and recovery

Post by DJBlu » Wed Aug 28, 2019 8:02 am

Dave Sutton's barnet wrote:
Wed Aug 28, 2019 7:47 am
officer_dibble wrote:
Wed Aug 28, 2019 7:23 am
Awful for Bury. What the hell do they do now? Start again in the northern counties? Feel for all the staff who have stuck with it. Be nice if we could offer some of them positions if we ever get our shit together.

Speaking of which.
Another 14 day deadline; presumably Gillingham will be pulled?

Liquidation - begin today? Or not whilst talks remain “optimistic”. Seriously Ken, you’ve taken it to the edge now, well done son.
Once they’ve got their shit together, either Bury FC or more likely FC Bury (or similar) will have to apply to the FA for membership of a league down the pyramid. Northern Counties, if it’s still called that, is one shout. They might shoot for National League (either the national “division five” or its regionalised tier-six feeder National League North, but they have to be voted in by clubs who have their own ambitions to be something more than a walk-on in someone else’s heroic rebirth.

Gillingham is an away match thus much lower overheads. I think James might stump up the cash for the coach. Liquidation unlikely to start when a deal is so close.
Am I right in thinking that Bury FC still exists as a company just without the golden share for the EFL. I know it's extremely unlikely but if they could arrange a takeover(moth ball the company) then could they not re-apply under the same company?

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