Deary me...
"There is bad news from Hyde United where "The Club has received notice of commencement of winding-up proceedings issued by HM Revenue and Customs in respect of unpaid taxes, to be heard in the High Court on 20 May. In order to settle all its liabilities, including HMRC, the club needs to secure funding of around £200,000.
The arrears have arisen largely as a result of the club’s obligations to players contracted to the end of last season, which were untenable following withdrawal of financial support from its former holding company for reasons outside the control of the football club. All those contracts have now come to an end, and the club has set a realistic and achievable budget for the coming season.
The directors have worked tirelessly over the past couple of weeks to try to pull together funding to satisfy the liability, and have already secured pledges for around one third of the balance due. The Chairman has had supportive discussions with HMRC, who recognise that the club is making progress in raising funds, and have indicated that if progress continues to be made they would not object to a postponement of the hearing to allow the club more time to reach settlement.
The club is also in dialogue with the Football Conference and will seek to reach agreement with HMRC within any deadline set by the League which would enable the club to remain in whichever league for which it qualifies as a result of its league position last season, without entering an insolvency event.
The club would be grateful to hear from anyone interested in helping the club to secure its future. Any pledges made will not be taken up until agreement with HMRC is reached".
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Now its Hyde....
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