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Creditors Seek More Time To Consider Shakers Rescue Plan

Creditors at Bury Football Club have asked for more time to consider a rescue plan.

A decision on a proposed CVA which would ensure the club's survival was adjourned at a meeting of the creditors today.

They'll meet again a week on Thursday.

A statement released on behalf of the club reads:

Creditors of Bury FC have asked for more time to consider a rescue plan for the newly-promoted club.

A decision on a proposed company voluntary arrangement which would ensure Bury’s survival was adjourned at a meeting of the League One club’s creditors today.

Steven Wiseglass, a director at Inquesta Corporate Recovery & Insolvency, who is the nominee for the proposed CVA, said: “The creditors have adjourned their decision pending further negotiations and are scheduled to meet again on Thursday,
July 18.

“We continue to work closely with the club, its director and the creditors to try to ensure a successful outcome.”

Bury FC is facing a winding-up petition led by HM Revenue & Customs over unpaid debts. Those proceedings were granted a six-week moratorium by a judge at the Royal Courts of Justice in London last month.
 

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