Dunfermline enter interim administration
PKF will take control of the finances and operation of the Irn-Bru First Division club
Wednesday 27 March 2013
Accountants PKF were today appointed as interim administrators of Dunfermline.
PKF will take control of the finances and operation of the Irn-Bru First Division club with immediate effect.
The interim order was granted at the Court of Session in Edinburgh, with April 11 set as the date to determine whether full administration will be granted.
The process protects Dunfermline from the immediate threat of being wound up over a £134,000 tax debt.
A Court of Session official said: "Interim managers have been appointed and there will be a by order hearing at the court on April 11 at 9am."
The Pars revealed yesterday they had approached PKF's experienced football trouble-shooter Bryan Jackson after being unable to meet the demand from Her Majesty's Revenue and Customs.
Jackson and Robert Barclay, also of PKF, have now been appointed interim managers with immediate effect.
Today's decision means tonight's league game against Falkirk will go ahead as planned at East End Park.
Jackson said: "Clearly there is a considerable task involved in trying to save Dunfermline Athletic FC as the 128-year-old club has accumulated substantial debts over several years mostly from existing and past directors.
"Unfortunately, there will be a number of redundancies which will be announced in the next few days.
"The interim management process will allow the club to operate without immediate fear of closure but I cannot stress the need for the continued support of the fans, players, and staff in this process.
"It is important to realise that this appointment is simply the first step in a process that will take some considerable time.
"The future of Dunfermline Athletic FC remains uncertain but this is a proud and historic club at the heart of a proud and historic community and I need the fans and the community to rally around their club in its hour of need. I would urge all fans to turn up for tonight's game to support their team.
"Money will need to be raised simply to get to the end of the season as well as into the summer to continue to fund the club's day-to-day operations.
"Meanwhile, I shall be consulting with creditors and potential buyers of the club to try to ensure it has a viable future.
"I believe that with the support of the staff, players, supporters and wider community we can resolve the serious financial issues that Dunfermline Athletic FC faces now and in the coming months.
"But the club will need as much support as possible, as soon as possible, if it is to remain in existence."
Dunfermline majority shareholder Gavin Masterton apologised for the club's financial situation and inevitable job losses.
He said: "Despite my concerns regarding events over the past six months the ultimate responsibility stops with myself.
"Over the years the Masterton family have invested several millions of pounds into the club to establish the infrastructure and just under one million in the current year but this trend unfortunately was not sustainable.
"I want to personally apologise to all who will now be upset and damaged by today's announcement. Money and jobs will inevitably be lost but everything will be done to ensure a rapid return to normality.
"The understanding and help from all the players, staff, supporters, creditors, advisors, directors and steering group has to have been seen to be believed and reflects the passion and love that so many people have for the club. Thank you all.
"The board has been actively pursuing a strategy over this period of time to secure the club's future without involving an insolvency event.
"We have been unsuccessful in our turnaround efforts but we will continue to do everything possible to allow the club to regroup and re-emerge as a strong entity with a long-term future."
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