Bury FC placed in administration
Bury Football Club Company Ltd has today been placed in administration.
Steven Wiseglass, a director at Inquesta Corporate Recovery & Insolvency, has been appointed administrator.
The development marks the latest chapter in the effort to save the club as a going concern and ultimately see it readmitted to the football pyramid.
Bury FC was expelled from League One of the English Football League (EFL) on August 27, 2019, when a takeover bid for the club collapsed.
Mr Wiseglass said: “Bury FC is one of the oldest football clubs in the country, with a loyal and enthusiastic fan base for whom the past 18 months have been extremely distressing.
“We understand how much the club means to so many people.
“My role is to try to rescue Bury FC as a going concern which will enable the company to exit administration and seek readmission to the football pyramid system in time for the 2021-22 season.”
Bury FC owner and director, Steven Dale, said: “The directors of Bury FC have fought long and hard to save this great club and have now taken the decision to appoint an administrator with a view to re-entering the football pyramid next season.”
Last August, shortly before a takeover deadline, analytics business C&N Sporting Risk announced that, following a period of due diligence, it was unable to proceed with its proposed takeover of Bury.
Owner Steve Dale confirmed three bids had been passed to the EFL, and said he remained hopeful Bury would be given a “reprieve to help get a deal over the line”.
But the EFL said: “Having fully considered all available options, including a number of late expressions of interest provided to the EFL, the EFL board has unanimously determined with enormous regret that Bury’s membership be withdrawn.
“The EFL board had maintained that there could be no further suspensions to the fixture list and that these ongoing concerns and the integrity of the competition were a significant factor in the decision.
“Recent events have highlighted how decisions taken at Bury FC over the last few seasons have caused the club and individuals close to it significant financial distress and there are a number of matters which, in our view, will require further investigation.”
“No-one wanted to be in this position, but following repeated missed deadlines, the suspension of five League fixtures, in addition to not receiving the evidence we required in regard to financial commitments and a possible takeover not materialising; the EFL board has been forced to take the most difficult of decisions.”
A phoenix club named Bury AFC, separate to Bury FC, was launched with the aim of entering the league lower down the football pyramid.