BWFC Statement

Bolton Wanderers Football Club and Bolton Whites Hotel can confirm that they have paid in full all monies owed to SCC/Heathcote's, which amounts to a total of £5,084.50.

It is to be hoped that SCC/Heathcote’s now fully adhere to the terms of the agreement and no further breaches occur, and all parties can work together without any further disruption for our valued clientele.

https://www.bwfc.co.uk/news/2018/august/club-statement/

5K? i don't understand? I thought we owed them at least 100K? Or is this the difference between what they owe each other?

Norpig wrote:5K? i don't understand? I thought we owed them at least 100K? Or is this the difference between what they owe each other?

Anderson talked about Heathcote's owing the club money - so I guess KA and his solicitors have agreed with their solicitors to off-set the two amounts and pay the balance.

Seeing that Heathcote apparently wanted all the money up front (presumably he has cash flow issues?) then it would appear to me that KA has got what he wanted.

Let's wait and see if that amount has actually been agreed by both parties before drawing any conclusions or speculating about Heathcote's finances.

I don't believe that Heathcotes would withdraw credit facilities at the hotel and issue a winding up petition over an outstanding amount of only £5,084.50
I don't think Ken is telling the full story there.

Ken had promised that 5k to parky for a striker.......screwed again.

Two obvious points here:

1. This dispute was unlikely to be over just £5k
2. Ken is using the Clubs official channels to air his own spin on club business - and I’m not a fan of that.

wanderlust wrote:the debt is £300k according to Heathcote's

However, in a statement to the Bolton News, Heathcote said he is still awaiting the payment, which has now increased to £300,000, adding that he had a duty to protect his team’s jobs and pay them on time as well as suppliers.
Describing Anderson’s statement as “inaccurate” and “defamatory”, Heathcote said: “The club has a high level of investment from Heathcote & Co. We intend to reassure our clients, customers and the team that we intend to see the contract out. To be absolutely clear, the hotel has not served notice to terminate the contract (as Mr Anderson alleges) and there is no legal basis to do so. We have been extremely patient and accommodating at numerous junctures when the club has been in difficulties. The team has performed to an extremely high level against a backdrop of adversity and difficult challenges all well documented…
“The only time such ‘disputes’ have occurred are when on a number of occasions the hotel has been unable to pay its debts as and when they fall due. On this particular occasion it started in early July. In spite of this, with a high level of concert and rugby attendance in the pipeline, Heathcote & Co once again attempted to support the club and continued to provide service.”

So Ken reckons Heathcotes owes the whites approximately £295,000 and has paid the balance the club owes to Heathcotes. 

Looks like the lawyers will be rubbing their hands at this one 

In Ken we trust