BWFC - Creditors Voluntary Liquidation

It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

It must mean though that the EFL Golden Share will be/already has been, officially passed over to FV (probably to FVWL Football Ltd).

The king is dead, long live the king.

Onwards and upwards.

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

Sluffy wrote:It must mean though that the EFL Golden Share will be/already has been, officially passed over to FV (probably to FVWL Football Ltd).

The king is dead, long live the king.

Onwards and upwards.

I'm sure it has.
Long live Queen Sharon of Brittan

Ten Bobsworth wrote:

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

I've been telling Wanderlust and others on here all that for the last three years.

Wanderlust is still completely in denial as to reality it seems.

No doubt he's not alone.

Sluffy wrote:

Ten Bobsworth wrote:

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

I've been telling Wanderlust and others on here all that for the last three years.

Wanderlust is still completely in denial as to reality it seems.

No doubt he's not alone.

There's been so much misinformation put out, Sluffy, that its no wonder most folk can make neither head nor tail of it and fall back on instinctive prejudices.

Ten Bobsworth wrote:

Sluffy wrote:

Ten Bobsworth wrote:

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

I've been telling Wanderlust and others on here all that for the last three years.

Wanderlust is still completely in denial as to reality it seems.

No doubt he's not alone.

There's been so much misinformation put out, Sluffy, that its no wonder most folk can make neither head nor tail of it and fall back on instinctive prejudices.

And where as a great deal of this misinformation come from and given a voice - the ST and Iles.

I've been telling Wanderlust and others on here that for the last three years also.

What's that saying again - there's non so deaf as those that will not hear, nor non so blind that those who will no see...

Unfortunately in this Facebook/Twitter world people have simply lapped it all up without question and many/most still believe it to be true - and always will!

Sluffy wrote:

Ten Bobsworth wrote:

Sluffy wrote:

Ten Bobsworth wrote:

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

I've been telling Wanderlust and others on here all that for the last three years.

Wanderlust is still completely in denial as to reality it seems.

No doubt he's not alone.

There's been so much misinformation put out, Sluffy, that its no wonder most folk can make neither head nor tail of it and fall back on instinctive prejudices.

And where as a great deal of this misinformation come from and given a voice - the ST and Iles.

I've been telling Wanderlust and others on here that for the last three years also.

What's that saying again - there's non so deaf as those that will not hear, nor non so blind that those who will no see...

Unfortunately in this Facebook/Twitter world people have simply lapped it all up without question and many/most still believe it to be true - and always will!

A lot of it has come from Iles and the ST but I also believe that it all started before Iles arrived at the BN. Certainly as far back as 2003 when ED took full control but maybe earlier than that.

The regime change of 1999 seemed to get little publicity in the BEN but the club was in financial difficulty and the old regime had to give way to newcomers. They believed they could turn things round and had the ambition of making BWFC a sustainable Premiership club. I expect it didn't go down too well with the old regime and their allies at the BEN and that it coloured the reporting for years to come.

I feel that Wanderlust is going through a bit of a crisis with his alcoholism.

Ten Bobsworth wrote:

Sluffy wrote:

Ten Bobsworth wrote:

Sluffy wrote:

Ten Bobsworth wrote:

wanderlust wrote:

Ten Bobsworth wrote:It was expected, but its now been officially logged that The Bolton Wanderers Football & Athletic Company Limited (formed in 1895) is being transferred out of administration into liquidation. Life goes on but it seems a bit like notice of a funeral to me

Thanks Ken.

That's a popular theory but it doesn't hold water.

How could Ken Anderson fund BWFC debts? All he could do was try to manage an insolvent position whilst trying to find someone who could. For most of the time he had available, he was saddled with the consequences of the Holdsworth involvement and by the time Blumarble were paid off no-one (Bassini excepted) was willing to take it on without the creditors taking a hit. i.e. administration.

Btw the administrators list of creditors proves that there  were no hidden or unexpected debts and that any claim that there were was a red herring.

I've been telling Wanderlust and others on here all that for the last three years.

Wanderlust is still completely in denial as to reality it seems.

No doubt he's not alone.

There's been so much misinformation put out, Sluffy, that its no wonder most folk can make neither head nor tail of it and fall back on instinctive prejudices.

And where as a great deal of this misinformation come from and given a voice - the ST and Iles.

I've been telling Wanderlust and others on here that for the last three years also.

What's that saying again - there's non so deaf as those that will not hear, nor non so blind that those who will no see...

Unfortunately in this Facebook/Twitter world people have simply lapped it all up without question and many/most still believe it to be true - and always will!

A lot of it has come from Iles and the ST but I also believe that it all started before Iles arrived at the BN. Certainly as far back as 2003 when ED took full control but maybe earlier than that.

The regime change of 1999 seemed to get little publicity in the BEN but the club was in financial difficulty and the old regime had to give way to newcomers. They believed they could turn things round and had the ambition of making BWFC a sustainable Premiership club. I expect it didn't go down too well with the old regime and their allies at the BEN and that it coloured the reporting for years to come.

You are no doubt correct about the history of how things started some twenty years ago but there is no doubt whatsoever that if we are talking about the hatred by many towards Anderson that this was essential started by the ST wanting to become the club owners (according to them Trevor Birch even asked them to seek Preferred Bidder Status) and their backing of Holdsworth combined with their hatred towards KA being involved in the takeover from Eddie.

Iles was/still is close to those in the ST and Holdsworth himself and clearly aligned himself with that camp and against Anderson and his reporting reflected that (never any article on what Holdsworth took out of the club nor his BM loan to HIS company yet secured on BWFC assets??? Nor any article EVER negative in respect of the ST) and worst of all his constant social media innuendo and poison against Anderson, that many followed blindly and was often based on stuff fed to him by the ST - particularly financial details that were factually wrong - as you know.

Whether by accident or design Iles seems to have no inkling as to what is happening at the club other than the club controlled press briefings and his twitter use is now practically nil other than to promote his articles in the paper.

As for the ST it would seem Sharon has kept them at arms length and claims they made about them working 'in partnership' with the club (in respect of the fan zone) were quickly muted and never acknowledged as such by Sharon, Emma or anyone else.

Seems neither of them are particularly welcome at the club.

I wonder why!

Question for Sluffy & Bob.

Do you think Ken was financially better off when he left BWFC than when he began his reign?

A simple yes or no answer will suffice.

Natasha Whittam wrote:Question for Sluffy & Bob.

Do you think Ken was financially better off when he left BWFC than when he began his reign?

A simple yes or no answer will suffice.

Do I think so - Yes.

He wasn't here to run the business (note I didn't say club as it wasn't a labour of love for him - and why should it be?) for free nor put in his personal money in it if he thought there was a good chance he would lose it.

He did what most normal business people do.

That is the nature of the beast.

Was Holdsworth financially better off when he left BWFC than when he bought it - yes, considerably more so - but no one ever talks about him.

I wonder why?

Could it possibly be because Iles chose not to write any articles on his and the ST's hero could it!

The Admiralty have mustered the might of the Royal Navy, in a desperate attempt to stem the growing threat from the Bolton Wanderers Supporters Trust, under the direction their evil mastermind, Marc Iles, who runs everything from the offices of the Bolton News, in the guise of a harmless journalist. Drone strikes are not ruled out.

Sluffy wrote:Do I think so - Yes.

Do you accept that an employer/owner has a responsibility to his or her staff?

Natasha Whittam wrote:

Sluffy wrote:Do I think so - Yes.

Do you accept that an employer/owner has a responsibility to his or her staff?

An employer has legal responsibilities to them.

An owner is not required to have a moral one.

Don't fall into the trap of confusing that an owner is not necessarily the employer.

Anderson owned BWFC - BWFC was the employer of people and the body that paid the wages and the bills - Anderson was never an employer and as such did not legally need to pay the wages or the bills from his own personal wealth.

Natasha Whittam wrote:

Sluffy wrote:Do I think so - Yes.

Do you accept that an employer/owner has a responsibility to his or her staff?

You're spoiling the love-in.
Although a better question might be "do you think that Bolton Wanderers was better off when Anderson left than when he first wrested control and insisted on taking total responsibility for the club?"

No doubt the response will be a resounding yay.

Natasha Whittam wrote:

Sluffy wrote:Do I think so - Yes.

Do you accept that an employer/owner has a responsibility to his or her staff?

You have hit on a significant part of the misrepresentations of Marc Iles and the ST.

KA was neither the employer of the staff nor the owner of BWFC. He was a shareholder in Burnden Leisure which owned BWFC. Part of the time he was a minority shareholder and part of the time a majority shareholder but in neither the case, as a shareholder, was he personally responsible for staff. No owner or part owner of BWFC has had personal responsibility for the staff since 1895.
Just like every other professional club in England, save possibly for Nottingham Forest which I understand, many years ago, may have operated as an unincorporated business.

KA was also a director. In fact for part of the time he was the only director and in that capacity he had certain responsibilties but they did not, in any sense, extend to paying staff out of his own pocket or, to put it another way, out of his wife's pocket.

Natasha Whittam wrote:Question for Sluffy & Bob.

Do you think Ken was financially better off when he left BWFC than when he began his reign?

A simple yes or no answer will suffice.

I think KA was determined that Holdsworth was not going to walk off with more than him and I suspect he made sure that didn't happen.
As a matter of interest, which player do you think walked off with the most from BWFC? John McGinlay or Dean Holdsworth?
Lets leave Ben Amos out of it.

wanderlust wrote:

Natasha Whittam wrote:

Sluffy wrote:Do I think so - Yes.

Do you accept that an employer/owner has a responsibility to his or her staff?

You're spoiling the love-in.
Although a better question might be "do you think that Bolton Wanderers was better off when Anderson left than when he first wrested control and insisted on taking total responsibility for the club?"

No doubt the response will be a resounding yay.

What a daft question.

Let me answer it by asking you this question -

"do you think that Bolton Wanderers was better off when Eddie Davies left than when he first wrested control and insisted on taking total responsibility for the club?"

I'll even give you a clue,  the club was about £20m in debt when he took control and £200m in debt when he left.

So did Eddie rape and pillage the club like you believe Ken Anderson did, or do you not realise the clubs been insolvent for years and only kept going by Davies continuing to fund it from his back pocket - and when he died and no one else wanted to throw away their money into a big black hole, the inevitable happened.

It's not exactly difficult to understand what actually occurred and why, if they set their mind to it rather than believe what they read on twitter and Facebook by people who clear didn't know their arse from their elbow!

Fwiw the club continues to be insolvent and part of the EFL's fit and proper test was for FV to show proof that they could cover the losses of the club for the next two years.

So another question for you,

"do you think that Bolton Wanderers will be better off in two years time (knowing that FV has budgeted for a trading deficit for both those years) than it is now following from Sharron's ownership of it?"

In fact I'll even give you the answer -

No, in financial terms it won't be, as the club debt will have increased, with Sharron (most likely anyway) being the creditor to whom the money put in to keep it trading, becoming the creditor (and probably secured against the clubs assets).

Will she have raped and pillage the club over those two years too?