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Bury heading for liquidation after owner Steve Dale defaults on payments

2020-02-14 15:09:07| Guardian Unlimited Business - more business news

Dale has defaulted on CVA agreed to settle 5m debtClub expelled from Football League in AugustBurys owner Steve Dale has defaulted on the company voluntary arrangement (CVA) he agreed last summer to settle the clubs 5m debts, having failed to provide the money required to fund it.The deadline passed on Tuesday and the supervisor of the CVA, the accountant Steven Wiseglass, confirmed that the funding had not been provided to service it. Dales failure makes it almost certain that the 135-year-old club, expelled from the Football League in August because Dale did not provide convincing evidence that he had the money to fund it for a season, will go into liquidation. Continue reading...

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