Wigan Property Holdings Limited (11205092): administration
- Status
- Administration ended
- Administration began
- 2020-07-01
- Administrators' firm
- Begbies Traynor
- Formerly
- IEC Wigan Property Holdings Limited; Hamsard 3483 Limited
- Incorporated
- 2018-02-14
- Location
- Manchester
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
On 23 June 2020, the solicitor acting for the Company contacted Begbies Traynor in relation to the financial position of the Company and various associated companies including Wigan Athletic AFC Limited (‘the Football Club”). A letter of advice was provided regarding various options that were available based on the limited information given. Further information was requested.
On 24 June 2020, there was a further telephone call between Paul Stanley, Gerald M Krasner and the solicitors acting for the Company. It was explained that there was a £6 million funding requirement and no further funds were being made available by the owner.
Further telephone calls ensued over the following days, but no detailed information was given to us and we were asked formally not to contact any of the UK directors at this time. As a result of our investigations, it became apparent that a number of assets relating to the Football Club were held by different associated companies (Wigan Athletic A.F.C. Limited, Wigan Football Company Limited, Wigan Athletic Holdings Limited, Wigan Property Holdings Limited and Wigan Sports Management Limited) ("the Group”). The solicitors were advised that if they wished to appoint us as administrators over.the Football Club (which operates the football club) then they would also have to appoint us over the Group companies in order that we had control over the whole operations.
Administrators' statement of proposals (2020-09-15) · Companies House register