Blues avoid administration (From Echo)
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Southend United avoid administration
4:01pm Saturday 7th November 2009 in News By Chris Phillips
Ron Martin has confirmed that Southend United have avoided administration
SOUTHEND United have avoided the threat of administration after paying off their debt of £2.1million to HM Revenue and Customs.
A statement on the club website confirmed the Shrimpers would not be losing 10 points.
"The club's chairman Ron Martin has today confirmed that one of his group companies has now paid, in full, the tax due to HMRC in the sum of 2.1million, thereby removing the threat of administration," read the statement.
"The funds were being held by the revenue's solicitors and, at lunchtime today, they have been released.
"A further, more detailed statement will be made next week."
Comments are closed on this article.
Comments (8)
6:49pm Sat 7 Nov 09
SARFENDMAN says...
8:45pm Sat 7 Nov 09
trueessexboy says...
As we play in the blue and we play in the red.......but at least we are still in the black hopefully we can get some more players in and start moving up the table and go for the promotion.
9:10pm Sat 7 Nov 09
tone1976 says...
I would still have cause for concern until after monday.
8:30am Sun 8 Nov 09
tophatdt says...
11:28am Sun 8 Nov 09
woodsman says...
1:40pm Sun 8 Nov 09
must comment says...
If it wasn't for Ron Martin this club would be nowhere. He saves the club from administration and still people want to have a pop at him. I cant believe it.
Even for the wealthy, 2.1 million in liquid funds is a lot of money to find especially in a recession.
Who would want to run and own a football club when the typical fan not only isn’t intelligent enough to appreciate the great effort and financial resources put into running the team but then post negative comments about him.
It isn't the fans right to expect the owner of the club to constantly support the club out of his own pocket, however he does. Lets give him and the club the support he deserves.
5:47pm Sun 8 Nov 09
BASILBRUSH says...
Some good games coming up in December. Hopefully we can see some good gates too.
I hope there are more funds available in the future.
5:56pm Sun 8 Nov 09
Barnet Shrimper says...
Where did this £2.1m come from this week ?
What will the Board now do to see this does not happen again ? and what proposals and funds have they to improve the playing performance of the Blues this year ?
News of the move from Roots Hall will also be helpful.
Hopefully, the recent club's bidders will reveal themselves ,and what proposals they offer for the future success and security the club.