Quick enquiry
  • Sondico

Dundee FC fate in creditors' hands

Creditors could decide Dundee Football Club’s future as they are set to be asked to take less than they are owed.

In a meeting on Friday the club will tell many of its creditors they may receive less than 10% of what they are due but if they refuse the club could face liquidation.

Those at the meeting will be asked for a further meeting in three weeks time and consider entering a Company Voluntary Agreement. If the offer is accepted, the club may be able to move out of administration which it has been in since October last year.

The Irn-Bru Scottish Football League First Division side is thought to be in £2.5m worth of debt with creditors including Her Majesty's Revenue and Customs who are seeking £420,000.

Web design by Brick technology Ltd.