Adminstrator Update (Nothing New…)

Administrators Paul Reeves and John Titley have posted a new statement supposedly updating fans on the plight of County, though I wouldn’t get your hopes up if I were you – it tells us as much as we already knew. For example – not a lot.

Stockport County Association Football Club Limited (SCFC) entered into Administration on 30 April 2009, with the appointment of John Titley and Paul Reeves, Directors at Leonard Curtis, as Joint Administrators.

This statement is an update from the Administrators.

‘The Administrators understand the frustration of supporters at the apparent lack of progress being made on completing a sale of the Club and exiting Administration, however, we would like to reassure all fans that the sales process is still continuing to progress.A number of issues that are key to us being able to conclude a sale are to be considered by the Football League at a meeting next week and we are hopeful that significant progress can be made to conclude a sale after that meeting.

‘In the meantime, we aim to have all other issues resolved as far as possible in order that, based on a successful outcome from next week’s meeting, the exit from Administration can occur smoothly and as quickly as possible after that date.

‘Additionally, we would like to state that as part of our legal duty, we will be providing a report to all creditors and shareholders by the end of November which will give details of the actions undertaken and progress made by the Administrators during the first six months of the Administration. Contrary to speculation in the media, this report will show that, to date, no professional fees have been taken by the Administrators or our advisors.’

So no firm date then. Still using phrases like ‘to date’, ‘at a later date’, ‘after that date.’

Just sometime ‘after that date’ will County come out of admin and be taken over. When, exactly? December? January? March? Or are you just going to keep bleeding us dry (not at this moment in time, no…but in the lump sum that you’ll charge IF we ever get out of this mess) until the close of the season and then close us down?

Because all you’ve done there Messrs Reeves and Titley, is add a short statement defending yourselves onto the end of a stock statement that tells us absolutely nothing.

Thanks.

Rumours that Jim Melrose has walked away from County surfaced earlier on Yellowboard coming from an article published on Google Alerts saying that Melrose had failed to agree terms and has walked away from the bid. This is untrue – we understand that Melrose is still working on a bid to take over County and is still involved with his consortium at this moment in time.