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Blue Square Bet Premier club write off director loans

Kidderminster Harriers Football Club has written off all outstanding director loans with chairman Mark Serrell set to perform a full business review of the club.

Last week the Blue Square Bet Premier side avoided a company voluntary agreement thanks to support form former directors Barry Norgrove and Neil Savery and Kidderminster Harriers Independent Supporters Trust.

Now Serrel intends to ensure the club never encounters the same scenario again.  Speaking to the Worcester News Serrell said:  "All outstanding directors’ loans have been either written off or been used to purchase shares in Kidderminster Harriers Football Club.

"After the long-term future of the club is secured, the board of directors are fully committed to ensuring that the dire financial circumstances that brought this club to the edge of an abyss are never repeated.

"The football club continues to lose hundreds of pounds per-week and it is our duty to ensure we correct this situation urgently.

"An immediate review of the whole business is to be undertaken to identify areas where the club can generate more income and cut excess costs."

 

Scott Hobro

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