Re: Latest financial situation - all posts here : Tue Jun 26, 2012 9:48 am
Bradford Bulls have entered administration.Brendan Guilfoyle and Chris White, from The P&A Partnership, have been appointed joint administrators after the club failed to find the investment needed.
Commenting on the appointment, Guilfoyle said: “We now have just ten working days to save the club from liquidation because there are no funds to carry on longer. “If there is anyone interested in buying the Bulls then we need to hear from them right now because this famous club is now on the brink of extinction.”
Guilfoyle, who was at the club’s Odsal Stadium this morning to give the news of the administration to employees, added: “The directors made every effort to try to save the club within the 14-day timescale issued by the courts but the moratorium ended yesterday without any potential buyer coming forward.”
White and Guilfoyle are partners at The P&A Partnership, a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Guilfoyle specialises in sports’ administrations and has been involved in the administrations of Leeds United plc, Luton Town, Crystal Palace and Plymouth Argyle.