Sports Shield BWFC Ltd - LIQUIDATED

Sports Shield BWFC Ltd - Accounts up until 31st December 2016 just released

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Bet that took him a long time to write up and sign off

Lots of analysis involved no doubt

Yet this company owns around a third of our club and hotel.

Nice one Deano.

Current assets of a quid? When did Deano buy the team?

I fancy buying the club..... I'll pay a Tenner and Dean can keep the change....I'm that sort of bloke.

Isn't today the big day when all this has to be sorted? No more extensions i heard.

Yes, they are in court today, but I wouldn't bank on it being sorted today

BoltonTillIDie wrote:Yes, they are in court today, but I wouldn't bank on it being sorted today

Sports Shield liquidated!!!

Ten Bobsworth wrote:

BoltonTillIDie wrote:Yes, they are in court today, but I wouldn't bank on it being sorted today

Sports Shield liquidated!!!

So what effect does this have on the club?

SPORTS Shield BWFC, the company owning 37.5 per cent of the shares in Bolton Wanderers, has been liquidated.

A London court decided this morning to uphold a winding-up petition filed by lenders BluMarble over a £5million loan taken out in March last year.

Sports Shield BWFC owner Holdsworth did not contest the decision and his shares are now in the hands of the liquidators.

Talks took place between majority shareholder Ken Anderson, who still owns 57.5 per cent of the shares, BluMarble, Holdsworth and prospective bidders throughout the weekend in an effort to avoid the company being dissolved but failed to reach a satisfactory conclusion.

Wanderers issued the following statement to The Bolton News: “We welcome the verdict and are currently speaking with our professional advisors.”

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MartinBWFC wrote:

Ten Bobsworth wrote:

BoltonTillIDie wrote:Yes, they are in court today, but I wouldn't bank on it being sorted today

Sports Shield liquidated!!!

So what effect does this have on the club?

The Wanderers board seem to like the outcome:

Wanderers issued the following statement to The Bolton News: “We welcome the verdict and are currently speaking with our professional advisors.”

Are we now due a shafting from the EFL? Thanks Deano you absolute bellend 

He may be a bellend, but at least he tried to ensure the club stayed alive. The problem is that we now have to keep shovelling shit until were thrown a lifeline.

But has this caused us more problems Glos? He never did have the money to pay back the loan he took out.

gloswhite wrote:He may be a bellend, but at least he tried to ensure the club stayed alive. The problem is that we now have to keep shovelling shit until were thrown a lifeline.

To be honest you, I, or anyone else could have taken out a loan and secured it on the clubs assets - so Holdsworth is certainly never been a saviour of the club like many seem to think he is/was.

it's just the whole mismanagement of the whole sorry saga that annoys me. Why did dear old Uncle Eddie not sort out a sale of the club to someone who actually had the cash to take over? 

He must have known for a long time he was going to pull out of the club so why couldn't he have set the wheels in motion sooner? Instead he left it till the last minute to sell to Deano who then had to bring in KA as the other fella dropped out. If the plan to write off the debt was always part of the plan whoever took over then i don't understand why we ended up with Deano at all?

I don't hold KA responsible for any of this by the way, he has at least tried to make things more stable but Davies and Holdsworth deserve all the shit that gets thrown their way over this.

So what happens to the 37.5% shareholding if they've been liquidated? Surely those shares should have appeared in the accounts as an asset, so as they didn't, have they already been handed to the creditors?

A video explanation on BBC Radio Manchester Sports twitter here -

Well worth a view (2 minutes long)

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