40 replies to this topic

[marshy1]

Salford Football Club(1914) Limited hace filed for a petition to wind the company up on Wednesday October 17th 2012.

Clearly the struggle to keep afloat has beaten them.

Just wonder what the council will do now about the remainder of the unpaid loan.

In the words of Frank Gallagher...PARTY.!!!!

[greengrass]

today is one of the best days of my life, how the mighty have fallen. ha ha ha ha ha ha ha ha

[Barnie]

Today is a good day for Swinton Lions.

[marshy1]

Early days yet Andy the petition can be removed if they settle the debt within 7days i think.

Also in reality you don't want any club to fold especially since Rugby Union is in the back yard so to speak.

The suprising part about it is that it seems to be Steuer Gregsson..the company they brought in to advise them on running the club who have filed the petition as they are also a club sponsor.

[greengrass]

I will keep my fingers crossed and start the big 7 day countdown he he

Everytime I see in the press at the beginning of the season Salford saying "we need average 8,000 to break even" I p~ss myself, everyone knew they would not get near that figure.

Because of Salford City Council loaning them some of the money for the ground, they are looking at collecting my bin every 2 weeks now great. Hope they get everything they deserve

[PaulT]

So the company they brought in to help with their finances are the company that issues the winding up order? You couldn't make this stuff up!!

It's like this company are telling Salford they're a dead horse!

Edited by PaulT, 18 October 2012 - 06:18 PM.

[greengrass]

It certainly does pal ha ha

[bigtony]

Can't believe any one would be happy at any rl club going under, rl fans need to stick together

[marshy1]

Bigtony I do half agree with you, but when the boot was on the other foot all those years ago they, Salford,voted against Swinton being granted a licence. Something a few haven't forgot.

[juliancaine]

Bigtony I do half agree with you, but when the boot was on the other foot all those years ago they, Salford,voted against Swinton being granted a licence. Something a few haven't forgot.

for once i agree with you marshy, one look at the reds accounts tells me their whole business model is totally flawed only trouble is we all end up paying for it. now the nwda is no more i reckon peel and the pink council will take over, as for godliman watson homes/malcolm white i ask myself whats the difference.

https://www.duedil.c...ited/financials

click on financials

nearly 4.4 million minus book value, somehow

Edited by juliancaine, 18 October 2012 - 05:45 PM.

[THE PIMPERNEL]

Alan (Marshy1) Can you look at the above balance sheet/accounts and give us a laymans account of what they mean? Thanks Lance.

[duffymoon]

Would imagine that this could threaten any council funding for our stadium.

[juliancaine]

x

Edited by juliancaine, 18 October 2012 - 07:42 PM.

[juliancaine]

Alan (Marshy1) Can you look at the above balance sheet/accounts and give us a laymans account of what they mean? Thanks Lance.

http://companycheck....ompany/06045563 can you look at ours too.

[marshy1]

I would imagine without seeing the books, the bulk of the debt will be made up of directors loans and other loans, with HMRC also maybe included.Depending on the levels of the directors loans this shouldn't create a problem so long as other debt is serviced, as theoretically the directors will not demand repayment.

[greengrass]

Rugby Fans stick together I totally agree Bigtony but when it comes to them not a chance. Don't know what is was like when you was at school but my school years was awful, listening to them laugh at Swinton with no ground wasn't doing well on the field and like Marshy said they voted against us to get back in the league.

I hope they get everything thrown at them.

[Bryce]

Voting against us kind of took away any chance of Swinton fans feeling sorry for the pinks. I do feel sorry for the fans that used to go every week at the Willows but now have to (or refuse to) travel to Barton to watch their team. But then again...Gigg Lane...Moor Lane...Sedgley Park...The Willows...LSV.

I don't think it affects council funding, each year the council is given a budget to spend on sports and leisure facilities etc. I'd heard alot of councils actually had a surplus at the end of last year.

[lionsfanusa]

So the company they brought in to help with their finances are the company that issues the winding up order? You couldn't make this stuff up!!

It's like this company are telling Salford they're a dead horse!

Or perhaps they think they can wipe out a lot of the debt and end up owning the whole thing? With no relegation, what impact does a loss of points have?

[Barnie]

4 days to go and counting.

[Spelly]

Is the Pinks' plight keeping me awake at night?

I think you all know the answer to that one!

Spelly.