World news – GB – Macclesfield Town wound up due to £500k unpaid debts

0
8

A judge told the 146-year-old National League club that they owe £190,000 to Her Majesty’s Revenue and Customs in tax

Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.

Macclesfield Town has been wound up in the High Court over debts totalling more than £500,000.

The 146-year-old National League club was forced into liquidation during a hearing at the Insolvency and Companies Court on Wednesday.

Judge Sebastian Prentis said that he could see nothing which gave him « any comfort » that the Silkmen would be able to pay their creditors “in a reasonable period”.

The judge was told Macclesfield owe £190,000 to Her Majesty’s Revenue and Customs in tax, as well as more than £170,000 to former manager John Askey and a similar sum to another creditor.

Macclesfield were relegated from League Two last month following an unsuccessful appeal against a EFL points deduction related to non-payment of players’ wages.

The Silkmen were deducted a total of 17 points across the 2019-20 season, which ultimately guaranteed a bottom-of-the-table finish in the fourth tier’s single relegation place, below the reprieved Stevenage.

Lawyers representing Macclesfield had asked for the hearing to be adjourned a further eight weeks with the hope that owner Amar Alkadhi could complete a sale before the end of September.

The judge refused to adjourn the winding up petition, which was initially lodged in early 2019, adding that there had been « ample opportunities » for the club to settle its debts.

Macclesfield regained their Football League status in 2018, winning promotion from the National League under Askey’s management.

Sol Campbell, the former Arsenal and England defender, steered the Silkmen away from relegation the following season amid worsening financial difficulties but left Moss Rose at the start of last season.

Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. The most insightful comments on all subjects will be published daily in dedicated articles. You can also choose to be emailed when someone replies to your comment.

The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Please continue to respect all commenters and create constructive debates.



SOURCE: https://www.w24news.com/news/world-news-gb-macclesfield-town-wound-up-due-to-500k-unpaid-debts/?remotepost=279740

Donnez votre point de vue et aboonez-vous!

Votre point de vue compte, donnez votre avis

[maxbutton id= »1″]