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SBD Global/March 12, 2013/Franchises

Dunfermline Chair John Yorkston Confident In Club Despite Cash Crisis

Scottish First Division club Dunfermline Chair John Yorkston insisted his "crisis-hit club can still survive" after U.K. tax authority HMRC has commenced winding-up proceedings, according to Alan Marshall of the Scotland DAILY RECORD. Despite talks aimed at agreeing a repayment plan over an estimated £50,000 ($75,000) bill that was due on Friday, HMRC has "served a writ to the East End Park outfit." The club also has to come up with a further £84,000 ($125,000) to meet another scheduled HMRC payment "in the coming days." Furthermore, it will have "just eight days to settle debts or reach a compromise" once the taxman formally announces the winding-up proceedings. Despite the mounting problems, Yorkston said, “I’m hoping we are in a happier situation this week" (DAILY RECORD, 3/11).
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