I'm surprised nobody has commented on the Administrator's 43 page report released yesterday. It was sent to creditors and shareholders and so I am unclear as to what level of confidentiality applies to the content and therefore I won't go into any detail. Having said that, the main things to take from the report seem to me to be that:-
Administration is likely to be a long process.
The administrators are looking for a sale on a going concern basis and a number of interested parties have been given access to detailed financial information and been invited to submit bids with a view to a sale sometime in 2015. If it can't be sold, they would look for a CVA to clear the debt.
Creditors are being asked to confirm by the end of the year, whether they are in agreement with this general approach and on whether a creditors' committee should be established.
Clarification is still needed around the ownership of the land around the stadium
The administrators have established a process to detail income and expenditure on a monthly basis and have provided details for the last 3 or so weeks. This detail will be invaluable for potential future owners.
The administrators have also given detailed information of who the creditors are and how much is owed.
I don't think providing any detail would serve any purpose. Suffice it to say, that the administrators appear to be going about their business in a methodical, professional and very efficient manner. But it looks to me that we could well be in administration for the rest of the season at least and we really should not be hanging on any hope of a quick fix. As fans, I feel the best thing we can do is to support the administrators in their work and get behind the club and the team, both financially and on matchdays.