Vital Football

Latest Aldershot Town News

Running Out Of Cash & Liquidation Threat

Running Out Of Cash & Liquidation Threat

The club have released a joint statement by the Administrators and Shahid Azeem led consortium.

The full statement can be read by clicking here.

'The consortium has raised in excess of £600,000 to settle football and non football creditors and administrators expenses. The consortium has also raised additional funding to provide for working capital in order to fund the club next season (and hopefully many seasons to come). In addition, members of the consortium are prepared to write off debts owed to them as creditors of the club amounting to a further £400,000.

The statement continues to say that the consortium has produced a 'prudent' business plan with the financial provision to enable the club to run on a sustainable basis.

The administrators also say that there were less expensive, alternate ways of bringing the club out of administration but those routes would've seen further footballing sanctions including further relegations and no guarantee from the Football Conference that the club would be able to play in their leagues in the future. The administrators understand that this would not be acceptable to the fans.

It is hoped the club can be taken out of administration this week, but there are still significant hurdles, which if they remain unresolved, will leave no option but for liquidation to occur.

The hurdles are getting creditors to accept the repayment compromise between what they are owed and what they are being offered.

'The Administrators have made it very clear that unless a deal is completed by Thursday this week, the prospects of saving the club are slim as there is little or no cash left to meet the ongoing trading and there are no other offers on the table. In the event that the club fails and goes into liquidation, there will not be any dividend payment to Creditors whatsoever.'

Apply To Be A Site Editor



Click here to join in the debate on the club forum.

Writer:Site Staff
Date:Tuesday July 2 2013
Time: 6:31PM

Best of Vital Network

Vital Boxing - Khan to Fight in the UK

Login to post a comment

Recent Aldershot Town Articles

FA Cup Set For 4th Sub Trial

The Football Association have confirmed that if IFAB approval is given, the FA Cup in 2016/17...

Archived Vital Shots Articles

Vital Shots articles from

Site Journalists

Write for Vital Shots
Write For Vital Shots
Apply Here

Current Poll (see more polls)

Rotherham MotM
Suggested By: Site Staff
Young24%
Herd8%
Tonkin6%
Lancashire8%
Vincenti6%
Bradley6%
Mekki6%
Stanley8%
Hall6%
Rose6%
Rankine8%
Sub:-Reid8%

League Table

# Team P W D L Pts. GD
1 Tranmere 7 6 1 0 19 8
2 Forest Green 7 5 1 1 16 9
3 Lincoln 7 5 0 2 15 12
4 Dag & Red 7 5 0 2 15 7
5 Aldershot 7 4 1 2 13 3
6 Sutton 7 4 1 2 13 1
7 Barrow 7 4 1 2 13 0
8 Macclesfield 7 4 0 3 12 3
9 Eastleigh 7 3 2 2 11 5
10 Wrexham 7 3 2 2 11 -2
11 Gateshead 7 3 1 3 10 6
12 Dover Athletic 7 3 1 3 10 1
13 Solihull Moors 7 3 1 3 10 0
14 Maidstone 7 3 1 3 10 -1
15 Torquay 7 3 1 3 10 -1
16 Boreham Wood 7 2 3 2 9 2
17 York 7 2 2 3 8 -3
18 Chester 7 2 1 4 7 -1
19 Bromley 7 2 1 4 7 -5
20 North Ferriby 7 2 1 4 7 -8
21 Braintree 7 1 2 4 5 -4
22 Woking 7 1 1 5 4 -7
23 Southport 7 1 1 5 4 -15
24 Guiseley 7 0 0 7 0 -10
Latest F1 News
Latest Vital Boxing News

Recent Aldershot Town Results (view all)

Aldershot Town Fixtures (view all)