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Widnes on the verge of administration

Championship outfit Widnes Vikings have confirmed that after the collapse of a takeover bid, they are unable to pay their players and staff.

The club are also on the verge of falling into administration if they are unable to secure major investment by Monday.

Players and staff will meet tomorrow to discuss the significant cash-flow gap, which has the potential to send the club into liquidation if it’s unable to be resolved.

The official statement on the Widnes Vikings website reads:

Throughout the past three months, Widnes Vikings’ Board of Directors and senior staff members have made extensive efforts to engage business leaders and individuals to secure investment to stabilise the club and overcome the potential threat of administration. This has included the Board writing off more than £370,000 worth of loans that they had provided to the club throughout their tenure.

It had appeared likely that a consortium of investors would take ownership of the club today, providing the necessary investment to secure the club’s future stability. However, at a late stage, a key member of this consortium have withdrawn from this process. As a result, the club has, as yet, failed to secure the necessary investment and is unable to make its payroll commitments for all employees tomorrow.

Efforts to secure investment remain ongoing and we will continue to pursue all available avenues. The club continues to invite other expressions of interest from individuals or groups that may wish to support Widnes Vikings at this time.

The club is taking advice in response to this matter. Widnes Vikings continue to trade and, at this stage, our scheduled fixture against Sheffield Eagles will be unaffected by these challenges.

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