GRETNA'S future will not be decided today despite the club's administrators calling a meeting with creditors to discuss the club's £3.7 million debt.
Sheffield-based Insolvency experts Wilson Field has invited the individuals and businesses who are owed cash by the club to the Smith's Hotel at Gretna Green, and while there are rumours of potential buyers stepping in to take over the cub, the othe
r option is liquidation.
However, Gretna chairman Ron MacGregor said yesterday that a deadline of Monday, 19 May has been set for potential buyers, which gives the club some leeway.
While liquidation is still a possibility further down the line, Gretna will fulfil their final two Clydesdale Bank Premier League fixtures against St Mirren and Hearts. McGregor said: "Wilson Field have called a meeting of creditors so we await the outcome of that and hopefully things will be a lot clearer.
"But there will be no need for newspapers to have a black border on them after the meeting. The final decision will not be taken tomorrow (Thursday].
"There are two options, liquidation or another party taking over, but there is no danger of the club being wound up at the meeting. We have been told that May 19th is the new D-Day for bids. That is when all the shadow boxing comes to an end.
"We know of one interested group putting together a buy-out package but they are dealing with the administrators rather than the club. But we will play our remaining two fixtures against St Mirren and Hearts."
Celtic, Motherwell, Everton, Birmingham and Blackburn are among those with claims, along with businesses and individuals, with former benefactor Brooks Mileson's the most notable. He is owed a loan of £1.871m.
The full article contains 300 words and appears in The Scotsman newspaper.
