HARLOW TOWN F.C OFFERED NEW LEASE OF LIFE AS THEY ENTER INTO CVAPress release September 21, 2009 Sport
As the football season is now under way, Harlow Town F.C bravely plays on despite the 10 point deduction as they officially enter into a CVA
• Harlow Town Football Club Limited officially enters into a Company Voluntary Arrangement (CVA)
• Hodgsons Chartered Accountants confirm creditors will receive dividends
Harlow Town Football Club Limited officially entered into a Company Voluntary Arrangement (CVA) on Thursday 17 September 2009, appointing David Mond of Hodgsons Chartered Accountants as the Supervisor.
Despite the grey day, Mond advises this is not a sad day but one which offers a new lease of life to a Club which is clearly loved by it’s town and loyal fans. Mond comments,
“Harlow Town F.C has done what was necessary to give the Club a chance to re-emerge and try and rebuild itself in a more stable, financial position with the support of the town.”
With creditors approving the CVA, the petition issued by HMRC will now be dropped and Hodgsons confirm that creditors will receive a dividend on their claims as long as the Club complies with the terms of the CVA.
According to the league rules Harlow F.C should receive a 10 points deduction and will need the support of the community to ensure the clubs survival.
Notes to Editor
For more information call:
Marketing – Jacqueline Cohen, 0161 968 6823 / 07976 739 125 / [email protected]
CVA – Steven Wiseglass, 0161 969 2023 /[email protected]
LD Financial Services, Del O’Sullivan – 01273 900 123 / [email protected]