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Gretna deadline at season's end | Gretna deadline at season's end |
(20 minutes later) | |
Administrators have confirmed Gretna FC will fold at the end of the season if a buyer is not found for the club. | |
The Scottish Premier League team went into administration in March with debts of about £4m. | The Scottish Premier League team went into administration in March with debts of about £4m. |
After a creditors meeting in the town administrators said it had been decided to let the side continue to play its remaining fixtures. | |
However, if no deal can be done to take over the club by a 17 May deadline then it will go out of business. | |
David Elliot of administrators Wilson Field Ltd said there were still four potential buyers. | David Elliot of administrators Wilson Field Ltd said there were still four potential buyers. |
'Remain hopeful' | 'Remain hopeful' |
"The proposal is that we continue to trade and allow the club to continue to play football until the end of the season while we seek a buyer," he said. | "The proposal is that we continue to trade and allow the club to continue to play football until the end of the season while we seek a buyer," he said. |
"We have got four interested parties and I would like to remain hopeful that one will come through before the end of the season." | "We have got four interested parties and I would like to remain hopeful that one will come through before the end of the season." |
Gretna's final league match is on 13 May, but Mr Elliot said they would remain "in funds" until four days after that. | Gretna's final league match is on 13 May, but Mr Elliot said they would remain "in funds" until four days after that. |
"At that point, to be quite frank with you, we stop," he said. | "At that point, to be quite frank with you, we stop," he said. |
He added that if no buyer could be found then the remaining 40 staff at the club would be made redundant. | He added that if no buyer could be found then the remaining 40 staff at the club would be made redundant. |