Wakefield Trinity Wildcats Issued with Winding Up Petition in the High Court
July 15 2013
Her Majesty Revenue and Customs issued a winding up petition against Wakefield Trinity Wildcats on Friday following a legal court battle between the Wildcats and one of its main suppliers. Over the last few years, the Wildcats have been involved in nine County Court Judgements.
However, it is not all bad news as Wildcats. Andrew Glover, who took the club out of administration three years ago said: “There have also been a number of CCJs against the company. There have been nine in total, of which eight are now settled and cleared. We are still waiting for the final paperwork to come through for the last one and then it will be cleared off.”
In recent years, the Club has been hit hard due to the losses of their main commercial sponsors and the postponement of their attractive fixture against Leeds during the winter playing season due to bad weather. Glover explained: “Our cash flow has taken a couple of massive hits this season, firstly with our main club sponsor going bust owing us £240,000 and our biggest revenue generating fixture of the season against Leeds Rhinos being postponed due to the snow.” These blows have left the club with a £300,000 shortfall in capital but it is expected to be offset by the arrival of a replacement sponsor, the appointment of new commercial staff and the sale of 2014 season tickets.
The Wildcats have recently signed a new club sponsor with C&D Cleaning Services and that will bring much need capital to the company. Glover explained further: “We have been lucky enough to get a new main club sponsor with C&D Cleaning Services who I must say have been brilliant”. It is hoped that from these sources of income, the club can pay off creditors in full, potentially eliminating the prospect of liquidation by way of a winding up petition.
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