Wasps administrators report (1 Viewer)

MalcSB

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Mar 10, 2012
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Admin report for ACL Astute 2006, OSB may be able to decipher! Looks like the two ACLs owed something like £70m, £12m of which to Sport England. Compass total loss of over £7m.
 

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  • Wasps - Trustee Notice to Holders (Administrators Proposals and Web Notice) 30 Nov.pdf
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MalcSB

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Mar 10, 2012
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I presume another similar report will be due for ACL ( now ACL Astute 2022).
 

fernandopartridge

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Dec 9, 2011
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Valuations are interesting, £24-35m without WRFC but presumably including CCFC. Yet Ashley got it for £16m.
 

SBS

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Feb 5, 2012
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Some of the small businesses who have been fucked over is criminal.

AV company owed £120k

Interesingly CCC owed over £250k.

More taxpayer cash down the drain. Maton reading the room well
 

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  • D576963A-81B0-4722-B3AC-7F8C7671F724.jpeg
    D576963A-81B0-4722-B3AC-7F8C7671F724.jpeg
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Nick

Administrator
Feb 25, 2008
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It's no wonder nobody would touch the pitch, owed a few pitch related companies money.
 

Frostie

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Jan 31, 2011
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I'm sure Wasps fans will still say it's not the club's fault. Bloody Covid... 🙄
 

Nick

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Feb 25, 2008
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The sheer number of unsecured creditors is massive, the directors should be in trouble really as it is obvious they were insolvent.

It's shocking, isn't it?

When it's multi-billion pound banks there isn't much sympathy but so many are just local businesses. How were they still taking services on tick when they owed so much?
 

The Philosopher

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Jan 16, 2014
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Page 24 where “COVID had a significant impact” is seemingly an obvious point. Just a mark in the sand here with the statement made by the RugbyPL - something like “Wasps can appeal if they can show the financial problems we’re down to exceptional circumstances (such as COVID)
 

Philosorapter

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Aug 7, 2013
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CCC1.PNG
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ccc2.PNG

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CCC as creditors.
ccc3.PNG
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ccc4.PNG
 

Nick

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Feb 25, 2008
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Page 24 where “COVID had a significant impact” is seemingly an obvious point. Just a mark in the sand here with the statement made by the RugbyPL - something like “Wasps can appeal if they can show the financial problems we’re down to exceptional circumstances (such as COVID)
The Covid-19 pandemic had a significant impact on the Group both as a result of cancelled CCFC and WRFC games and associated lost revenues but also reduced revenue from cancelled conferences and events and the closure of the hotel and casino during government-imposed lockdowns.
 
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Philosorapter

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They owe CCC £250,000+
 

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