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Worcester winding up order |
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CJB1 ![]() World Cup Winner ![]() ![]() Moseley Joined: 25 May 2007 Location: England Status: Offline Points: 1902 |
![]() ![]() ![]() ![]() ![]() Posted: 17 Aug 2022 at 16:35 |
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I'm hearing that Worcester RFC are being served with a winding-up order by HMRC over an unpaid tax bill. Can anyone confirm this?
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"What I need is a strong drink and a peer group"
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Pistacio ![]() World Cup Winner ![]() Joined: 01 Aug 2013 Location: London/Lisbon Status: Offline Points: 312 |
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https://www.telegraph.co.uk/rugby-union/2022/08/17/worcester-warriors-hit-winding-order/
seems to be in the mainstream media. a function of them doing something wonky or are they suffering from something else?
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CJB1 ![]() World Cup Winner ![]() ![]() Moseley Joined: 25 May 2007 Location: England Status: Offline Points: 1902 |
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"What I need is a strong drink and a peer group"
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Steve@Mose ![]() World Cup Winner ![]() Joined: 01 Jun 2007 Location: United Kingdom Status: Offline Points: 2800 |
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Worcester Warriors: Premiership club in dialogue with HMRC over unpaid tax bill
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Runitback ![]() World Cup Winner ![]() Joined: 22 Sep 2014 Location: North Status: Offline Points: 1217 |
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To run a Premiership rugby team, mens or women's, you need very deep pockets as club rugby does not make money . . . Wasps and Worcester in serious trouble others will be similar . .. Sale might well be next!!!
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Run with it
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CJB1 ![]() World Cup Winner ![]() ![]() Moseley Joined: 25 May 2007 Location: England Status: Offline Points: 1902 |
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OTOH it might just be sabre-rattling by HMRC to concentrate minds at Worcester to get the money together pronto. If Worcester show some movement then they could be ok.
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"What I need is a strong drink and a peer group"
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Halliford ![]() World Cup Winner ![]() ![]() Joined: 17 Feb 2010 Location: United Kingdom Status: Offline Points: 4215 |
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I’m helping someone else’s company, not a rugby club, with an HMRC debt. The taxman’s view is that if you can raise finance to run the business, you can raise finance to pay us. I suspect this is what is happening, Wuss need investment cover operating losses and HMRC are saying, ahem, pay us first!
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Camquin ![]() World Cup Winner ![]() ![]() Joined: 01 Jun 2007 Location: Cambridge Status: Offline Points: 11284 |
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Not just Wuss in trouble Wasps are in default on their bond and in dispute with CCFC over the state of the pitch. They have not entered a CVA or administration yet, but.
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Sweeney Delenda Est
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kingsheathlad ![]() World Cup Winner ![]() ![]() Joined: 15 Jan 2010 Location: Alcester Status: Offline Points: 3299 |
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The days when HMRC allowed a time to pay agreement appear to have gone, its a case of approach your bank for funds.
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Cauliflower ear.
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Fly Half ![]() First XV regular ![]() Joined: 15 Jun 2019 Location: Otley Status: Offline Points: 105 |
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I think we have all known that Wasps and Worcester have had long standing financial problems but I've always wondered how London Irish are sustainable. Do they have a money man?
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Mark W-J ![]() Coaching staff ![]() ![]() Joined: 22 May 2007 Location: United Kingdom Status: Offline Points: 3662 |
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Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday. Not sure how deep his pockets are.
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Fly Half ![]() First XV regular ![]() Joined: 15 Jun 2019 Location: Otley Status: Offline Points: 105 |
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Thanks for that Mark WJ, must be worrying though when the owner is also the shirt sponsor. Essentially, total reliability on a single person. Sounds very similar to Exeter.
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tigerburnie ![]() World Cup Winner ![]() Joined: 10 Jun 2012 Location: Scotland Status: Offline Points: 3736 |
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Diamond responded saying it was all in hand and he wasn't concerned, basically they are ok if covid doesn't shut the game down again.
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Kimbo ![]() World Cup Winner ![]() Joined: 31 May 2007 Location: 'incleh Status: Offline Points: 6378 |
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Is he also known as Shugs by any chance?
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Kimbo ![]() World Cup Winner ![]() Joined: 31 May 2007 Location: 'incleh Status: Offline Points: 6378 |
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Losing 10 mil a year, even before covid, and defaulting on bonds is not a good look. It's difficult to see a way out for them. City are apparently going to be paying for the pitch, with an arrangement for Wasps to pay it back. Good luck with getting blood out of a stone Joy.
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FHLH ![]() World Cup Winner ![]() Cambridge Joined: 19 Apr 2009 Location: Cambridge Status: Offline Points: 5331 |
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Isn't Exeter's business model based around the Sandy Park complex, which perhaps took a hit during Covid. Time for Premiership clubs to lose marquee players, cut foreign players and reduce salary cap
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"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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tigerburnie ![]() World Cup Winner ![]() Joined: 10 Jun 2012 Location: Scotland Status: Offline Points: 3736 |
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I think you'll find they already are. What is really needed is an RFU that knows what it's doing, puts in place proper checks like soccer does and enforces them..........oh and ditch the Gin and Prawn sarnies.
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dropout22 ![]() World Cup Winner ![]() Joined: 03 Jul 2017 Location: UK Status: Offline Points: 518 |
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Quite deep
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Kimbo ![]() World Cup Winner ![]() Joined: 31 May 2007 Location: 'incleh Status: Offline Points: 6378 |
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Quite. Dream on though.
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dropout22 ![]() World Cup Winner ![]() Joined: 03 Jul 2017 Location: UK Status: Offline Points: 518 |
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Not a chance It's already bad enough, either scrap the salary cap or up it!. How far do we want to fall behind?
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