Andrew Abbott's Blog

Wednesday, 4 February 2015

Knock me down, why don’t you?

Just when things were looking up for those of an Impish persuasion along come the Coop Bank, proud owners of City’s overdraft, to say that’s it, take your business elsewhere. How we could have done with being Cambridge United last night at Old Trafford.
Bob Dorrian has written to shareholders asking for help in the face of demands from the Coop to sell assets to reduce the amount owed to them. He told the Echo:-
“We do not wish to sell Club assets as this would leave us in a very precarious financial position, i.e if we did, the Co-op Bank would get its money back and we would still be faced with raising a further £300k/£400k on top of what we owe the bank to use as working capital , effectively placing the Club in dire financial straits.”

We’re probably no worse than many other clubs but you do wonder if someone up there doesn’t like us. Maybe we should be ditching that Imp.

No comments:

Post a Comment