UK time is: 12:03:44
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

£5m by 5pm today or else...

Watford Leisure PLC have today issued the most damning statment yet confirming that if £5m isn't found for the Russo's by the close of trading today, they could have place the company in administration.

Following the resignation of the aforementioned directors, the Board received a written demand from Valley Grown Salads for the repayment of its £4.88m of loans (made to the Company) on or before close of business on 16 December 2009.

"The Board continues to consider indicative proposals from both Valley Grown Salads and Fordwat Limited. However, pending resolution and clarification of its financial position the Company has requested that its shares be suspended from trading on AIM. In the event that a funding solution cannot be obtained then the Company may have to be placed in administration. A further announcement will be made in due course."


Hopefully we can use the snow as some sort of 'delay' ploy...




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer: wfc123 Mail feedback, articles or suggestions

Date:Wednesday December 16 2009

Time: 11:40AM

Your Comments

Hope it all gets resolved amicably, it would be a real shame if you went into Administration...the damage that would cause.....
Our Kids Dad
I'm *****ting it.. Our club is crumbling before our eyes... Where's EJ now.. If I was a multi millionaire who loves my club I would lend to keep us afloat.. Interest free.. Although I would want to know that the finances are transparent and upfront and everyone know where the money is and how it's being spent.. Lord Ashcroft is a pr*ck. he would sell for his money back surely.. Let's hope that EJ loves the club as much as he sayes and he just doen't love Watford because it looks good on his CV to be "from the people".. Please please help EJ....
watford1881
I've got my fingers crossed for you. As a Pompey fan I know how ***** all of this news is… I don't think we're far away from going into administration either.
stillthewhizz
Problem is Ashcroft will not get his money back; he purchased his shares via the 2006 Rights issue fronted by Simpson and the share price was around 20p then. By my reckoning he stands to be down around £5M at the suspended share price and I doubt whether the Salad Bros have even offered that much. Would love to know the contents of the 2 proposals under consideration. I wonder if the Ashcroft one involves the complete redevelopment of Vic and us moving to be tenants elsewhere?
RFB-gloryhornetboys
Interesting thoughts RFB and could well be on the cards, but the fact they are now talking suggests a glimmer of hope, we wait and see.
ANDY710
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Articles

Away From Home: All Over? (Thursday April 24 2014)

Stats: QPR v Watford (Monday April 21 2014)

QPR v Watford Starting XIs (Monday April 21 2014)

Preview QPR v Watford (Monday April 21 2014)

Stats: Watford v Ipswich Town (Saturday April 19 2014)

Watford v Ipswich starting XIs (Saturday April 19 2014)

Preview: Watford v Ipswich Town (Saturday April 19 2014)

Opposing View: Ipswich Town (Friday April 18 2014)

Archived Articles

List All Vital Watford Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. KDCallanan 6
2. ANDY710 4

League Results (view all)

Latest Results
Q.P.R. 2 - 1 Watford
Watford 3 - 1 Ipswich
Millwall 2 - 2 Watford
Watford 3 - 0 Leeds Utd
Watford 1 - 1 Burnley
Sheff Wed 1 - 4 Watford

League Table (view table)

Team P W D L GD Pts
9. Ipswich 44 17 14 13 6 65
10. Blackburn 44 16 16 12 5 64
11. Bournemouth 44 17 12 15 -1 63
12. Watford 43 15 15 13 17 60
13. Middlesbrough 44 14 16 14 7 58
14. Bolton 44 13 16 15 -3 55
15. Sheff Wed 44 13 14 17 1 53

Breaking League News

Freedman: I'm Building A Team
» Bolton : 24/04/2014 11:46:00
Birmingham Injury Update
» Birmingham : 24/04/2014 11:41:00
The Latics In End Of Season Overdrive
» Wigan : 24/04/2014 11:39:00
Away From Home: All Over?
» Watford : 24/04/2014 10:57:00
Oyston calls in police
» Blackpool : 24/04/2014 10:20:00
Player Ratings - Middlesbrough (H)
» Reading : 24/04/2014 10:00:00
why not join up to Blackpool Vital
» Blackpool : 24/04/2014 09:58:00

Current Site Poll (view all polls)

Should Stuart Attwell have refereed the Burnley game?
Suggested By:  Editor
Yes 29%
No 71%