Winding-up Petitions: Swinton Lions Face Another HMRC Petition
September 05 2017
CEO of Swinton Lions, Stephen Wild, insists the clubs future is secure. This is despite the club being issued with another winding-up petition.
The Championship club received a notice of the winding-up petition, after being unable to pay off the total sum of their debt.
This is the seventh occasion the club has been issued with a winding-up petition within a 12 month period. The club is struggling to get a hold on their finances.This follows the difficulties that came to one of their hierarchy’s earlier this year.
However, Stephen Wild remains reassured that the club will have the funds to settle the issue with HMRC. Stating once they settle the recent issue, the club will be stronger financially. This hopes to ensure they don’t encounter similar predicaments in the future.
Wild told TotalRL, that “it was something we were expecting”. “It’s an overhang from the original financial predicament we found ourselves in. We weren’t fully able to clear the HMRC debts last month so we were expecting this. But we do have funds coming in which will deal with it, in full, over the next couple of days”.
“It’s not something we’re overly concerned about. We’d obviously rather not had it and had the funds in prior to HMRC having to issue the petition. We do have the funds coming in and once that’s done we’ll be totally up to date with HMRC. We don’t envisage any problems moving forward.”
In July, the club managed to raise funds of around £50,000 in order to clear another winding-up order due to unpaid tax.
Despite this, the clubs hierarchy confessed that another £50,000 sum was needed to ensure the club could continue running until the end of the season.
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