# Port Vale (Valiant 2001) Football Club Limited (04669703)

> Why UK company 04669703 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04669703

- **Status:** Administration ended
- **Administration began:** 2012-03-09
- **Administrators:** Robert Michael Young, Gerald Maurice Krasner, Steven John Currie
- **Administrators' firm:** Currie Young
- **Formerly:** Kelvin Green Limited
- **Incorporated:** 2003-02-18
- **Location:** Stoke on Trent
- **Industry:** 9261

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

Towards the end of 2011 the Company began to suffer cash flow difficultes Financial forecasts were prepared for the directors of the Company, who at the time were Michael Lloyd, Perry Deakin, Glenn Oliver and Peter Miller and these showed that there was a major need for capital investment into the Company, without which the Company would struggle to continue to trade

Vanous potential investors were approached by the directors, however no offers of funding were completed despite interest from a number of parties By January 2012 the situation was critical The Company was unable to meet its VAT and PAYE habilities as a result of which the Football League placed a transfer embargo on the Club

In February 2012 the Company missed loan repayments to the first mortgagee, Stoke on Trent City Council Also, the February payroll was missed leaving all staff unpaid for the month On 23 February 2012, Peter Miller resigned from his position as a director of the Company which left the Board of directors inquorate and unable to pass any resolutions

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04669703/filing-history/MzA1NjE3NjYzMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04669703

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.