Latics Realisations Limited (00270043): administration
- Status
- Administration ended
- Administration began
- 2020-07-01
- Administrators' firm
- Begbies Traynor
- Formerly
- Wigan Athletic A.F.C. Limited
- Incorporated
- 1932-11-08
- Location
- Manchester
- Industry
- 93120 Activities of sport clubs
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Attached at Appendix 5 is a summary of the financial results for the three years to 30 June 2019. As can be seen Substantial losses have been incurred and there has been the need for the owner to fund the Club.
On 23 June 2020, the solicitor acting for the owner of the Club contacted Begbies Traynor in relation to the financial position of the Club. A letter of advice was provided regarding various options that were available to the owner based on the limited information given. Further information was requested.
On 24 June 2020, there was a further telephone call between Paul Stanley, Gerald Krasner and the solicitors acting for the owner. It was explained that there was a £6 million funding requirement and no further funds were being made available by the owner.
Administrators' statement of proposals (2020-09-05) · Companies House register