FORUMS > Bradford Bulls > Phoenix from the flames? |
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| From Insider Media :-
The liquidation of Bradford Bulls looks set to leave creditors shouldering an estimated shortfall of almost £2m, new documents which also shed further light on the plight of the one-time rugby league giant have revealed.
A report prepared by administrators at PBC Business Recovery, which were appointed to handle the club's affairs in November, details creditor claims of £1.84m.
This sum includes £690,643 owed to suppliers, £400,995 claimed by HM Revenue & Customs and £750,000 of director loans, which is listed as an unsecured claim after former owner Marc Green and his wife waived their status as a secured creditor in the interests of the wider pool.
At the date of the report (6 January 2017), the club's assets were expected to fetch about £250,916 which would only be enough to discharge some of the costs of the administration.
The report reveals that operating losses at the Bulls rose from £660,116 in 2013/14 to £947,171 in the year to 30 November 2015, with a cash crisis gripping the club who had been one of the most successful in the sport at the start of the Super League era in the mid to late 90s.
A tax demand and subsequent winding-up petition presented by HMRC ultimately led to the administration of the club – the third such event in four years.
After an ultimately unsuccessful hunt for a buyer to acquire the club out of administration, Bradford Bulls Northern Ltd was liquidated at the start of the month.
A new entity led by New Zealand Rugby League chairman Andrew Chalmers and Graham Lowe, a successful former coach, have now embarked on developing a new new professional rugby league club in Bradford.
The new club will begin the 2017 season in the Kingstone Press Championship on minus 12 points.
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International Star | 312 | No Team Selected |
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Sep 2010 | 14 years | |
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| Quote: colly226 "Does anybody know or has it been mentioned anywhere, when season tickets are being sold again.
Is the office/shop open this week?'"
Its a good question, I had been thinking the same thing on the way home from the match. Are we open for trading? My lottery is now either due or overdue.
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Rank | Posts | Team |
Player Coach | 9551 | |
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Jun 2005 | 19 years | |
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Jul 2024 | Jun 2024 | LINK |
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| Quote: BeechwoodBull "Its a good question, I had been thinking the same thing on the way home from the match. Are we open for trading? My lottery is now either due or overdue.'"
Stopped paying lottery at point we got liquidated. Afaik they stopped collecting it at that point.
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Rank | Posts | Team |
Player Coach | 3991 | |
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Mar 2005 | 19 years | |
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Apr 2024 | Apr 2024 | LINK |
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13554.jpg The phrase politically correct is in itself politcally incorrect so should be rephrased politically stupid!
If you like old type radio comedy/ dramas etc listen to //pumpkinfm.com/
Statistically speaking you have a better chance of getting dead the older you get!
Thank god only when you find a religion that passes the truth test!:13554.jpg |
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| Quote: mat "Stopped paying lottery at point we got liquidated. Afaik they stopped collecting it at that point.'"
Its in a separate account and as a charity type lottery is not touched by the Administrator and should be up and running again soon I hope!
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Rank | Posts | Team |
International Star | 312 | No Team Selected |
Joined | Service | Reputation |
Sep 2010 | 14 years | |
Online | Last Post | Last Page |
Mar 2021 | Mar 2020 | LINK |
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| Quote: Blotto "Its in a separate account and as a charity type lottery is not touched by the Administrator and should be up and running again soon I hope!'"
Thanks for that, might just take a ride up and see if theres anyone about. Might be a bit like the Marie Celeste!
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Rank | Posts | Team |
Player Coach | 3991 | |
Joined | Service | Reputation |
Mar 2005 | 19 years | |
Online | Last Post | Last Page |
Apr 2024 | Apr 2024 | LINK |
Milestone Posts |
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Milestone Years |
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Location |
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Signature |
13554.jpg The phrase politically correct is in itself politcally incorrect so should be rephrased politically stupid!
If you like old type radio comedy/ dramas etc listen to //pumpkinfm.com/
Statistically speaking you have a better chance of getting dead the older you get!
Thank god only when you find a religion that passes the truth test!:13554.jpg |
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| Quote: BeechwoodBull "Thanks for that, might just take a ride up and see if theres anyone about. Might be a bit like the Marie Celeste!'"
Well I believe the Ghost of Stuart Duffy still haunts the place but don't tell M E as he might be tempted to do an exorcism
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