rugbyunion
Latest News:

Liquidation


By HQ
December 7 2016

Statement from Club : London Welsh Rugby Club can confirm that the Club is to seek voluntary liquidation ...   .

London Welsh Chairman Gareth Hawkins, said: “London Welsh has reached a difficult point in its illustrious history. Due to a playing budget of £1.7million and gates at games numbering as low 400, the Club’s current business model is totally unsustainable.

“The debts accrued from trading in this way have left the Club with no alternative but to seek liquidation. Having to break that news to 40 staff members yesterday was extremely difficult.

“All creditors of London Welsh Rugby Club will be contacted by the liquidator.

“In the New Year, it is the hope and intention of the Board that London Welsh will be able to return to playing at Old Deer Park, however it will first be necessary to change the Club’s business model to a semi-professional set-up and form a new company, and then raise £300,000 so that the Club can regain a position within the RFU Greene King IPA Championship."

 

View a Printer Friendly version of this Story.

Bookmark or share this story with:

Liquidation
The Dragons' Den (IP Logged)
07/12/2016 15:24
What do you think? You can have your say by posting below.
If you do not already have an account Click here to Register.

 
Re: Liquidation
taff in sevenoaks (IP Logged)
08/12/2016 17:26
A very sad day for all concerned with LW. However, as Richmond & London Scottish have reformed I can see London Welsh doing something similar

Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net
 

London Welsh Poll

New poll coming soon!

See results > Submit >>