Archive
2 April 2009
Mark Fry and David Hudson of Begbies Traynor appointed as joint administrators to Southampton Leisure Holdings plc
Mark Fry and David Hudson of recovery and restructuring specialists Begbies Traynor have today been appointed joint administrators to Southampton Leisure Holdings plc ("the Company"), the AIM-listed holding company that owns Southampton Football Club.
Shares in the Company were suspended from trading on 1 April 2009, when the Company announced that it was in negotiations to secure additional financing to ensure that it was able to continue trading; as yet, new financing has not been agreed, and as the Company is insolvent, it has been placed into administration.
The joint administrators are now working with the Directors as they seek to either refinance or find a buyer for the assets of the Company.
Further announcements will be made when it is appropriate to do so.
Mark Fry, Joint Administrator, commented:
"Southampton Football Club has a long history in English football, and could be an extremely attractive investment for the right buyer. We are working hard to preserve the value of the football Club and produce a positive outcome for all stakeholders, and I ask that fans continue show their support for the team for the remainder of the season, as we seek to show the best face possible to potential investors."
Ends.
For further information, please contact:
Begbies Traynor
Mark Fry / Kirstie Provan 020 7398 3800
Smithfield
John Kiely / Will Swan / Will Henderson 020 7360 4900
There will be a press conference today at Saint Mary's
Stadium, Britannia Road, Southampton at 13.00.
