Nottingham Forest boot winding up order into touch

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Nottingham Forest Football Club is set to overturn a sixth winding up order at the Companies Court later today, stating that outstanding debts to HMRC have been settled

The club, currently standing at 13th in the Football League Championship, is due in court this afternoon, but club executives have told local paper the Nottingham Post that they have paid the debt already and have had written confirmation that HMRC’s petition will be dismissed.

Nottingham Forest finance director Lalou Tifrit said: ‘This was settled some time ago, the club is in a sound, financially viable position. We have a good relationship with HMRC and we are disappointed that the process has gone this far.’

The Reds last faced a winding up order in March this year, when HMRC also confirmed at the hearing that the debt had been paid in full. The latest order is number six in a line stretching back over the last couple of years.

In 2014 the club faced a petition from Le Bistro, a subsidiary of stadium caterers Elior which sought settlement of a £200,000 bill, which was paid. The same year HMRC issued a winding up petition over an unpaid tax bill of £1.8m, which was dismissed after the debit and costs were paid in full.

Also in 2014 another winding-up petition by football agency Impact Sports Management Ltd, over an unidentified debt, was also settled, while in January 2016 there was been one other winding-up petition relating to another undisclosed tax debt which has been paid in full.

Nottingham Forest has recently been released from a transfer embargo imposed by the Football Association in 2014 for failing to comply with the financial fair play rules. The ban meant the club has been unable to take part in three previous transfer seasons, but was lifted in May.

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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