LIMERICK FOOTBALL CLUB is facing liquidation after a court hearing today.
Court protection has been removed from the company behind the League of Ireland outfit at the South Western Circuit Court in Ennis — ending an examinership process that began in September.
Limerick have debts of approximately €490,000 and the Munster side has not been able to secure a licence for the SSE Airtricity League First Division next season.
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Chairman Pat O’Sullivan has been willing to hand over control of the club for some time, but efforts to find new investment have been unsuccessful.
Conor Noone of Baker Tilly Chartered Accountants told the court that while an investor had been identified “the party did not engage with him in the manner required in recent weeks”.
Noone said: “Despite the progress made in developing a viable restructuring plan the company over the last 100 days, we are disappointed at the outcome reached today.
Everything possible has been undertaken to secure the future of the company and to preserve employment at Limerick FC.”
The statement from Baker Tilly adds that the next step is likely to be the appointment of a liquidator for the company.
It’s been a dark couple of years for Limerick FC, who were hit with a 26-point deduction last month – which saw them finish bottom of the First Division — after entering examinership, and this could spell the end.
Reacting to the news, the FAI said: “The Football Association of Ireland notes with disappointment the end of the examinership at the parent company of Limerick FC today. League of Ireland officials have been in regular contact with the Examiner over the past few months and will assess the situation in the coming days.
“There has been no contact between the Limerick owner Pat O’Sullivan and the FAI over how he intends to proceed following today’s news. No application for a League of Ireland licence was made by Limerick FC as the club was in examinership.”
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Limerick FC set to be liquidated
LAST UPDATE | 11 Dec 2019
LIMERICK FOOTBALL CLUB is facing liquidation after a court hearing today.
Court protection has been removed from the company behind the League of Ireland outfit at the South Western Circuit Court in Ennis — ending an examinership process that began in September.
Limerick have debts of approximately €490,000 and the Munster side has not been able to secure a licence for the SSE Airtricity League First Division next season.
Chairman Pat O’Sullivan has been willing to hand over control of the club for some time, but efforts to find new investment have been unsuccessful.
Conor Noone of Baker Tilly Chartered Accountants told the court that while an investor had been identified “the party did not engage with him in the manner required in recent weeks”.
Noone said: “Despite the progress made in developing a viable restructuring plan the company over the last 100 days, we are disappointed at the outcome reached today.
The statement from Baker Tilly adds that the next step is likely to be the appointment of a liquidator for the company.
It’s been a dark couple of years for Limerick FC, who were hit with a 26-point deduction last month – which saw them finish bottom of the First Division — after entering examinership, and this could spell the end.
Reacting to the news, the FAI said: “The Football Association of Ireland notes with disappointment the end of the examinership at the parent company of Limerick FC today. League of Ireland officials have been in regular contact with the Examiner over the past few months and will assess the situation in the coming days.
“There has been no contact between the Limerick owner Pat O’Sullivan and the FAI over how he intends to proceed following today’s news. No application for a League of Ireland licence was made by Limerick FC as the club was in examinership.”
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SSE Airtricity League Premier Division Examinership League of Ireland Liquidation LOI Limerick