Ian Wright, Quantuma managing director and joint administrator said:
“Craig Morrison and I were appointed joint administrators of Dumbarton FC on 18 November 2024. The directors of the club were left with no option other than to appoint administrators, following the non-receipt of significant funds that were owed to the club from the sale of development land in 2021.
As administrators, we will be investigating the circumstances surrounding this transaction and other issues affecting the club, but will not be in a position to comment further at this time. Our immediate priority is to ensure the club can complete its fixtures and we will be meeting with key stakeholders to ensure this can be achieved.
We understand this will be a shock to fans, staff and the local community.
The club employs 18 playing staff, six football staff and three club staff whose roles are secure whilst we work through the early stages of assessing the options available to the club. We would invite any interested parties to come forward.”
ENDS
Quantuma Advisory Limited
Quantuma is a cross-border advisory firm serving the needs of corporate companies and their stakeholders involved in complex, cross-border business challenges.
Its capabilities include extracting value from underperforming businesses, transactions to maximise stakeholder value, resolving business disputes, mitigating business risks, identifying and recovering assets and managing operational and financial challenges.
The Quantuma team has deep cross-border experience and specialist expertise in Restructuring & Insolvency, Corporate Finance, Disputes, Investigations, Asset Tracing & Recovery and Valuations.
The firm is headquartered in London and employs 400 people, who are located across 26 offices situated in the UK, Cyprus, Mauritius, The Cayman Islands, BVI, Singapore, Hong Kong, Vietnam, Dubai and Australia.
For more information, please visit www.quantuma.com
Press contacts
Marie Wadeson, Managing Director
Quantuma
+44 7464 545678
marie.wadeson@quantuma.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
