Tax Man Seeks To Place Shrimpers In Administration

Last updated : 27 October 2009 By exiledessexboy
Oh dear!

Forget tomorrow, that's old news, the HMRC are now actively placing to put Southend United FC into administration and have cancelled Wednesday's hearing.

Uncle Ron has now informed us;

'Yesterday (Monday) evening, the Club was advised that HMRC have changed their position and are now seeking an Administration to be considered. As such HMRC are postponing tomorrow's hearing to allow the Administration to be considered on Wednesday, November 4th, 2009 - a one week delay.'

'This is not a viabilty issue for the financial planning is sound but we have needed time to overcome the banks' inabilty to lend since their collapse in the summer of 2008. Prior to this everything was on track and it has taken a year to get back to our advanced position. Therefore HMRC's hostile action is not only unwelcome but also destructive.'

'We are not looking to escape any debts (indeed we wish to pay in full) and will be able to, given a further short respite, settle the indebtedness.'

'Every supporter cares about the Club's future and I care at least the same and will take up every wakeful hour to make sure that HMRC do not rip this from us.'

'When I have something further of a material nature to say I will issue a statement but cetainly in advance of the weekend.'

And those are the edited highlights, for the full statement go here:
www.southendunited.co.uk/page/NewsDetail/0,,10444~1838744,00.html

'A further short respite', how short is Ron expecting? The HMRC do not seem to be in the mood to do us any more favours, we did say there would be no trouble paying by October.

Then again I read Glasgow Rangers could go into administartion this week, so no one's safe, except maybe Manchester City, for now.

Oh well, maybe minus ten points, is the beer good in Accrington?

A long week for Shrimpers indeed.