ReSolve has cfggh been appointed administrators of London Irish, just days after its owner – Mick Crossan – placed the club into administration.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
It comes following unsuccessful negotiations for a takeover of the club, with partners Lee Manning and Simon Jagger appointed joint administrators of the company. The administration comprises two parts of the business – London Irish Holdings, which owns the club’s training ground – and London Irish Scottish Richmond, which operates the club.
Earlier this week (6 June) English rugby’s governing body the RFU suspended the club from the Premiership after the company’s directors were unable to a complete a long-reported sale to a US-based consortium to secure its future viability.
ReSolve partner Manning said: “I know that this will be a very difficult day for London Irish fans, players and staff who love and support this historic club.
“London Irish’s company directors and major shareholders worked tirelessly to try to find a successful buyer for the club but this, sadly, was not possible. Our objective will be to ensure that as much value as possible can be preserved in the hope of securing the future of this much-loved club.”
Resolve has said it’s currently exploring options for the business and welcomes any approaches from interested parties.