Looks like its another sad day in the football world just come across this article.
Halifax Town drown in a sea of debt
Gutted: Town general manager Angie Firth looking tense after the outcome of Friday’s talks at the administrators’ offices
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09 May 2008
By Dave Fletcher
HUGE tax debts have buried Halifax Town after almost 100 years as a football club.
Shock new figures put to a reconvened creditors meeting showed the cash-strapped Shaymen owed over £800,000 to the Inland Revenue.
The Revenue refused any deal and that effectively finished the club – already over £2 million in the red.
Administrators had been trying to broker a rescue package but speaking after five hours of talks that left liquidation near inevitable, administrator Rob Sadler said: "Halifax Town will probably perish."
It was originally thought the club – which narrowly clung on to its Blue Square Premier League status on the last day of the season last month – owed the taxman around £500,000. That was thought to leave scope for a deal.
But the news that it owed £814,000 meant that even if all the other creditors had accepted the 2.5p-in-the-pound offer originally on the table it would not have been enough.
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The full article contains 182 words and appears in n/a newspaper.Page 1 of 1
Last Updated: 09 May 2008 5:27 PM
Source: n/a
Location: Halifax