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Nottingham forest winding up order?

M Dogg

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Don't worry about it mate, these come round more often than the paper boy.

First one we've had for a while mind, Fawaz has been quite good this season. Will be resolved by Monday.

Needs to stop. This is the 5th or 6th since he came in, on top of unpaid hotel bills and unpaid transfer fees. It's just unprofessional. Doesn't highlight any financial weaknesses though.
 

Rammy

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Saw this mentioned elsewhere the other day. Fawaz never pays anyone on time, so these don't even make it into the news anymore.
 

Kilburn Ram

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They've had 3/4 in the last year.

Pretty shabby way to run a business, though I suspect it's more a reflection of the way middle eastern businessmen operate. There must be some element of financial problems though, given its regularity.

I wouldn't be too happy if DCFC was constantly in the courts like this.
 

Kilburn Ram

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£21.5million loss. Ouch:

Nottingham Forest have announced £21.5m losses for the year ended May 31, 2015, in their annual report, which is down from £24m.

The club has filed its latest accounts with Companies House.

And the highlights are as follows:

Turnover increased to £17.4m from £15.3m in the previous year.
The average attendance at the City Ground rose to 23,492 from 22,630.

Season ticket sales were up from 14,853 to 15,482.

Wages at the City Ground went up around £2m, from £24m to £26m.

The club's net debt increased from £52m to £82m.

And the debt owing to the club's owners, the Al Hasawi family, increased from £37m to £67m, with the report stating 'that is repayable only at such time as the Club is in a position to repay the outstanding loans'.

It is also stated in the report that chairman Fawaz Al Hasawi 'has confirmed his intention to maintain this support for a period of at least twelve months' from the date the accounts were signed, which was November 23, 2015.

In the report's business review section, it states: "The 2014/15 season was a time of missed opportunity for the club when early success was halted by injuries to key players, and hard decisions and decisive action proved necessary to rescue the situation.

"Preparation to meet the challenges of FFP (Financial Fair Play) also adversely affected the season as management worked tirelessly behind the scenes to thrive in the changed environment.

"The supporters will have been pleased to see a new emphasis placed on the development of the club's many promising young players and despite the embargo and our need to cut costs, the team was also strengthened by the introduction of new blood.

"Revenue increased again, thanks to the dedication of the supporters and the work of the commercial department, although there were also significant increases in transfer payments and the wage bill for the playing squad.

"The Chairman once again generously provided support for the club, not only in financial terms, but also in his enthusiasm and appetite for success."

Forest are hoping to emerge from their Financial Fair Play embargo this summer thanks to the £7m sale of Michail Antonio to West Ham United and further cost-cutting by manager Dougie Freedman

Championship clubs will be permitted to lose a maximum of £13m during 2015/16
 

Walkley_Owl

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Gates and Turnover will be down this term too.
 

Luke_1884

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We might have something in common next year at this rate.

Embargo party.
 

Rammy

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And they thought they had a good chance of coming out of the embargo in January :lol:
 

barnet_pls

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Wow £26m wage bill for a mediocre championship side when revenue is only £15m..... doesn't sound like long-term stability.
 

M Dogg

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That was last seasons, where we all knew our finances were bad
 

M Dogg

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Doesn't look good but Percy is being a bit of a cock here. I don't think there is anything unusual with getting paid on the last day of the month rather than the Friday and then the reason it wasn't paid is because no fucker turned up to work yesterday. Unprofessional and embarrassing but he needs to chill out a bit.

Still highlights the fact that we need someone at the club who is responsible for the admin, as the FD in charge at the moment is clearly a bit of a muppet.
 

Walkley_Owl

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Doesn't look good but Percy is being a bit of a cock here. I don't think there is anything unusual with getting paid on the last day of the month rather than the Friday and then the reason it wasn't paid is because no fucker turned up to work yesterday. Unprofessional and embarrassing but he needs to chill out a bit.

Still highlights the fact that we need someone at the club who is responsible for the admin, as the FD in charge at the moment is clearly a bit of a muppet.

It's fucking ridiculous and you still owe us for Antonio you cheating twats
 

M Dogg

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Rammy

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I seem to remember this Kuwait bank holiday thing was the excuse for the last time they weren't paid on time too. You'd think they'd have learned to be more careful by now.

EDIT: Bank holidays were Thursday and Friday last week, so I fail to see how this meant they couldn't be paid yesterday as was planned?
 

M Dogg

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Good bit of research that.
 

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