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Page last updated at 11:01 GMT, Wednesday, 28 October 2009

Weymouth set for administration

Weymouth

Financially-stricken Weymouth have announced their intention to go into administration following a long struggle against outstanding debt.

The Blue Square South club are losing money on a week-to-week basis.

Director Shaun Hennessey told BBC Radio Solent: "We've spent six months twisting, turning and battling. Sadly the inevitable has crept up on us."

Weymouth are currently bottom of the league and face a 10-point penalty if they go into administration.

The Terras have won only one of their opening 16 games, taking a total of six points, and are already six points away from safety.

A notice of intention to appoint administrators was filed with the Royal Courts of Justice, in London, by the club on Tuesday.

Hennessey added: "I think everybody probably knew that it was probably inevitable months ago but we felt it was our duty to the shareholders and creditors to try everything first."

The board is now working with the proposed firm of administrators and the Terras Supporters Trust to try to find a way to enable the club to remain in existence.

Weymouth fear that without outside financial support it is unlikely the administrators will be prepared to let them continue to trade in order to avoid increasing losses to creditors.

Just over two weeks ago, former chairman Malcolm Curtis issued a notice for repayment of the club's overdraft of £25,000 with Barclays Bank and had threatened to call in debts of £220,000 if the club failed to meet their demands.

A recent fund-raising scheme called 'Terras Saviour 100' resulted in £50,000 being raised in a last-ditch bid by local businesses and supporters to save the club.

Acting Terras chairman Paul Cocks had also been seeking fresh investment and met with a number of interested parties but no firm offers materialised.



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