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Reading - HMRC issue winding up petition


Lanterne Rouge

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2 minutes ago, Lrrr said:

Avoided a points deduction because they made sure all players got paid on time but other staff only got 50% of their pay with rest being paid by Tuesday supposedly Select Car Leasing stumping up to make sure they get paid. 

What a horrible time to be an employee of Reading. If you are - for example - working in the Ticket Office and unlikely to be earning a great deal of money, to only get 50% of your pay at anytime of year is bad enough, but this close to Christmas must add to the stress and anxiety. 

 

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On 31/10/2023 at 18:18, Mr Popodopolous said:

I reckon we are approaching cash break even now but we cannot be sure. SL's contribution will be vastly reduced if not negated this season I expect.

I wish Reading and Sheffield Wednesday well in their off pitch sagas.

That will only likely happen if a significant portion of Scott’s fee was due immeduately.

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Reading merely appear to be a bit late with certain things as opposed to not paying verbatim.

https://www.readingchronicle.co.uk/sport/23970949.reading-fc-removed-efl-embargo-settling-hmrc/

It's hard to understand what is going on there. Cash Flow sure but the reasons for the difficulty?

They literally seem to pay late, go into embargo then a few days later paid and out again.

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36 minutes ago, Natchfever said:

What does Henry Winter have to say @Mr Popodopolous or hasnt he extricated his tongue from Evertons arse yet?

Had a quick look..he quotes a statement but will search further for his own thoughts.

 

He highlighted it but hasn't really added his own thoughts as far as I can see yet to the most recent developments.

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The £20-25m from the Training Ground won't go to the club then??

Unsure of their Cash Losses atm, Bolton and Wigan both sold the same Training Ground within 4 years of each other so it may not be the end.

They appear to have extended their CH due date by 3 months albeit unsure how as they haven't utilised the typical loophole.

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One more bit to add.

If I was a sceptic, I would say Dai Yongge, is on the negative side looking to recoup as much as he can as quickly as he can..he is somewhat down, who knows if he had Commercial Loans back in China or similar.

Land and Buildings in the Home Counties can be very valuable financially speaking. Not quire sure of hiis total investment to date..

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