Whitehouse appointed as Rangers’ administrator

DAVID Whitehouse, managing director at business turnaround firm Duff & Phelps in Manchester, has been appointed as joint administrator of top Scottish football club Rangers.

Mr Whitehouse and colleague Paul Clark from the firm’s office in London are in Glasgow working with the ailing club.

The appointment by the club yesterday afternoon came after Her Majesty’s Revenue and Customs sought to appoint its own administrator.

Duff & Phelps said: “The appointment follows a petition for administration presented to the Court of Session in Edinburgh today by HMRC following the non-payment of circa £9m PAYE and VAT following the takeover of the Club in May 2011”.
 
Paul Clark added: “HMRC have been working closely with the club in recent months to achieve a solution to the Club’s difficulties.  However this has not been possible due to ongoing losses and increased tax liabilities that cannot be sustained.
 
“We are working together with management and its major creditors including HMRC to achieve a solution to the financial problems which will ensure the ongoing survival of the business, which is of paramount importance to all concerned,” he added.

The administration is  the biggest UK football insolvency since Leeds United in 2007.