dorsetblue wrote:Am I understanding the BBC site to be wrong - it refers to us being wound up and placed in to admin with a ten point hit if we not pay in full - I thought the 5th means pay in full or club is no more - are the been wrong ?
I think they are wrong, from everything I have read if we are wound up a liquidator (administrator if you prefer) will come in and sell as many assets as possible to cover the debts to the creditors and then close the business down. Doesn't matter what the balance sheet looks like. Only thing that I think could save us then is if someone approached the liquidator willing to pay off all the creditors there and then and takeover the running of the club with a water tight business plan.