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The PIT

Shef Wednesday Next Club Into Admin

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Looks like the bank is refusing to bail Wednesday out again after another 1.1 million of unpaid tax has been discovered by Inland Revenue. Wednesday ironically have too Wednesday to find the money or face going into administration.

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Why Oh Why Oh Why dont Clubs pay there tax bills :rofl: :lol: :cc_confused:

It just doesnt make sense to me...Southend United my local club almost got wound up because of an unpaid tax bill...do they honestly think they can get away with it?

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Amazing isn't it. Small Business wanting a loan bank says get stuffed. Football club that basically constantly loses money here's a hand out. Still if the banks really clamped down it would be bye bye Liverpool bye bye Man UTD.

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Amazing isn't it. Small Business wanting a loan bank says get stuffed. Football club that basically constantly loses money here's a hand out. Still if the banks really clamped down it would be bye bye Liverpool bye bye Man UTD.

Man Utd are an inherently solvent (and profitable) club, but the Glazers put their debts not the Man Utd balance sheet. However the same thing cannot be said of clubs like Chelsea and Man City.

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I've got to admit I'm embaressed my club (well the board!) were boasting about supposedly playing the tax system. Wednesday are screwed and will be in admin come christmas unless something changes at the top. :nonono:

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Well regardless of Millwalls financial situation,on the field,getting done 6-1 at home to Watford,they must be close to administration lol now then where did I put my boots

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Wednesday facing another winding up order as they fail to pay taxes again.

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There's also a rumour going around that the co-op (SWFC bank) actually served the club with administration papers in August to sign, but the board convinced them to pay the HMRC bill and stick by them for a bit longer.

It should be an interesting 4 weeks as either of the following will happen:

1) Get put into administration with no investor to take us on

2) Co-op pay the HMRC bill for us and we continue as we have been

3) Get put into administration and we took on by an investor (Chris Turners group primary candidates)

4) We get bought by an investor

I honestly don't know which one it's going to be. More rumours say that the takeover has been agreed and to be announced by the weekend, but it makes me wonder why would an investor take us on now when they could get us for cheaper in administration

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There's also a rumour going around that the co-op (SWFC bank) actually served the club with administration papers in August to sign, but the board convinced them to pay the HMRC bill and stick by them for a bit longer.

It should be an interesting 4 weeks as either of the following will happen:

1) Get put into administration with no investor to take us on

2) Co-op pay the HMRC bill for us and we continue as we have been

3) Get put into administration and we took on by an investor (Chris Turners group primary candidates)

4) We get bought by an investor

I honestly don't know which one it's going to be. More rumours say that the takeover has been agreed and to be announced by the weekend, but it makes me wonder why would an investor take us on now when they could get us for cheaper in administration

Perhaps it's because the bank said it would forget some of the debt???? Could be another false rumour though as such takeover shave been rumours for about five years.

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As expected the fantasy two million has been that just fantasy. Wednesday must be going for the record number of winding up orders in a season. They shouldn't really be allowed to keep not paying the tax man every other month.

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Indeed, it is very embaressing for us :-( Non of the board care though. This will be going down to the last minute unfortunately

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To make thing worse we've been issued another Winding Up Petition due December :(

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To make thing worse we've been issued another Winding Up Petition due December :(

I'm losing track of this. Is that the fourth this season already. Embarrassing really.

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Four more imaginary groups in talks to save Wednesday. I say imaginary as none of the others have come to fore. However if there isn't a deal struck by tonight the saga may go on for another two weeks if the co-op bank asks for a stay of execution. If the judge has any sense he should say no. They've had enough time to find a buyer. If they delay it longer they'll have yet another tax bill to pay.

Send them into admin let a buyer get them on the cheap and they can rebuild next season.

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An amazing stay of execution by the judge even though the club has been effectively insolvent for several months. So another four weeks of farce.

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An amazing stay of execution by the judge even though the club has been effectively insolvent for several months. So another four weeks of farce.

It is embaressing. There are a couple of investors which have satisfied the bank, but the board is a closed shop so they refuse any offer for their loans. They want to get us to go into admin so they can re-buy us for cheap.

We don't have the full 28 days though, our next hearing is due on the 1st December for the other winding up petition so we've basically been given 2 weeks.

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