Four more clubs face immediate risk of going bust
2 September 2019
"Red Flag" test by accountancy firm Begbies Traynor highlights four more clubs at risk of going bust.
"Relegation or missing anticipated promotion could be a financial and business disaster for several more clubs this year," says Gerald Krasner, former chairman of Leeds United.
Relegated club held up as a financial model for other clubs to follow.
Following the rescue of Bolton and the expulsion of Bury from the EFL, financial experts have confirmed that four more clubs - including at least one in the Championship - continue to face the immediate threat of going out of business.
The "Red Flag" tests carried out by insolvency experts Begbies Traynor over the summer, called the Football Distress Report, revealed that financial distress in football clubs has seen a six‐fold increase - from just one club last season, to six clubs across the Championship and two EFL divisions.
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