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  • Mitre June 17

Dundee FC fate in creditors' hands

Creditors could decide Dundee Football Club’s future as they are set to be asked to take less than they are owed.

In a meeting on Friday the club will tell many of its creditors they may receive less than 10% of what they are due but if they refuse the club could face liquidation.

Those at the meeting will be asked for a further meeting in three weeks time and consider entering a Company Voluntary Agreement. If the offer is accepted, the club may be able to move out of administration which it has been in since October last year.

The Irn-Bru Scottish Football League First Division side is thought to be in £2.5m worth of debt with creditors including Her Majesty's Revenue and Customs who are seeking £420,000.

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