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Chester hopeful of buy out

THREE separate consortia have shown interest in purchasing troubled Chester City from the administrator, who was appointed last weekend.

Skelmersdale-based insolvency practitioners Refresh Recovery Ltd have taken on the task of evaluating if the recently relegated club has a future, and also assessing what is the best financial package for City’s creditors.

Two separate groups, which include members of Chester’s business community, emerged earlier this week as prospective buyers while last night a Cheshire-based entrepreneur admitted that he would also be interested in discussing the possibility of taking over the club at the right price.

“I will be contacting the administrator and embarking on a process of due diligence, but that is all I am prepared to reveal at the moment,” said the businessman who didn’t wish to be named at this point.

Another scenario is that the club’s major shareholder Stephen Vaughan could also purchase Chester City back from the administrator.

It is understood that a meeting for all the club’s creditors, and its existing shareholders, will be held within the next 14 days.

Meanwhile, the Chester City Independent Supporters Association have arranged a meeting, which they hope all the club’s concerned fans will attend. It will be held at the Deva Showbar in Station Road, Chester on Thursday, May 28 with a 7.45pm start.

 

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