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Dunfermline Athletic to exit administration 17 October 2013

Dunfermline Athletic Football Club (DAFC) is to exit administration following a successful acquisition of the club by fan-backed Pars United group.

Pars United (EEP Limited) completed the acquisition from administrator BDO LLP after a Company Voluntary Arrangement (CVA) offer was accepted by creditors.

The group has also taken control of Dunfermline’s stadium, East End Park, from administrator KPMG.

DAFC entered administration in March this year after facing a winding-up order over unpaid tax totalling £134,000.

In September Pars United revealed it would cost £150,000 the save the club from liquidation, despite having already raised £500,000.

Bob Garman, the new Dunfermline chairman, said: “The last few months have been a painful and frustrating time for everyone connected with Dunfermline Athletic.

“We cannot lose the positive attitude, and sense of involvement and engagement amongst our core support. The fund raising effort of the Pars Supporters and Patrons has been nothing short of exceptional, particularly in such tough economic times.

“However, in terms of moving DAFC forward as a sustainable business there is still much to be done.”

An interim board has been set up by Pars United for the duration of the 2013-2014 season, headed by Bob Garman and including, Jim Leishman, Ian Hunter, Kip McBay, Craig McWhirter, and Margaret Ross.

Administrator Bryan Jackson of BDO LLP said: “When I was appointed administrator of DAFC in late march I said it was a considerable task to save the club and, given the events of recent weeks, I wasn’t wrong.”

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