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Volume 10 No. 24

Finance

Scottish Football Club Dunfermline Athletic's interim administrators "have been given the go-ahead to continue their bid to save the football club," according to the BBC. Dunfermline had been granted interim administration last month after "facing a winding-up order" over a £132,000 ($203,000) tax bill in February. Insolvency practitioners Bryan Jackson and Robert Barclay "were given time to prove a rescue plan was in place." The duo from financial accounting company BDO International has now "been appointed as administrators." Counsel for Dunfermline Athletic Susan Ower outlined the steps taken by the interim managers during their time in post. She said that "they had met with directors to explain the implications of their appointment and met with staff to explain the effect on the company and the lack of funds to meet arrears of pay." A community strategy group called Pars United has been formed to help save the club (BBC, 4/11).

Germany sports retail chain SportScheck achieved a gross turnover of about €394M ($516.61M) for the fiscal year until the end of February, down by just 3.4% compared with its record sales the previous year (ISPO, 4/11). ... Under Armour has teamed up with former adidas Brasil President Marcelo Ferreira da Silva to set up a subsidiary for the American sports brand in Brazil. Ferreira da Silva is "to start working for Under Armour as a consultant and to lead the company’s Brazilian entity once it is up and running" (ISPO, 4/11).