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Millers to escape liquidation..

Millers to escape liquidation..



Millers chairman Denis Coleman told the official website 'This is to stop the club going out of existence and we're confident it will be agreed.'

If the propsal is agreed at the creditors meeting on 5 May, a ten-point deduction will be enforced next season.

Last month a group of Rotherham businessmen, headed by Coleman, stepped forward with an investment pacakage that the club had hoped would see off the threat of liquidation.

But with the financial position at the club worsening after the Inland Revenue issued a winding-up petition, the club have moved for a voluntary arrangement to avoid going out of existence.

Coleman added: 'What we've done today is not liquidation, it's not administration, it's a company voluntary arrangement.'

Im led to believe there is a lot of hard work to be done before may the 5th, lets just hope at the end of all this talking and discussions, we still have a Rotherham United.


Click here to join in the debate on the club forum.

Writer:
Date:Wednesday April 19 2006
Time: 6:57PM

Comments

0
Good luck. This could be very serious though.
guinless
19/04/2006 20:28:00
0
Didn't you just know it - as soon as they start talking about deducting 10 points we'll be one of the first (are we the first?) to suffer from it. Nowt like knocking a club when its down, eh?
herringthorpe
19/04/2006 20:33:00
0
as arnie would say "we`ll be back" UTM
Mexbro miller
20/04/2006 09:06:00
0
wrexham were relegated after having 10pts deducted hope we dont follow suit . but even that would be better than no club at all
mvmiller
20/04/2006 16:24:00
0
We are the first club in history to nearly go out of business evry 2 months!
tony260674
21/04/2006 00:07:00
0
I think Bournemouth can run you close to that.
FEn_100
24/04/2006 23:36:00
0
why have other clubs escaped the points deduction in the past?
vertigo_red
25/04/2006 14:37:00
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