Rhyl announce plans for liquidation after failing to secure investment
Belle Vue - the home of Rhyl FC (Image: Rhyl FC)
Rhyl have been consigned to liquidation after failing to secure external investment to preserve the clubs future.
Following a month of trying to attract investors, no viable option was found and now the board has initiated the formal winding up of the company.
There was a final deadline a 5 pm yesterday but were unable to find the £175,000 required to ensure the club would run for the entirety of next season.
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In an emotional statement, penned by Paul Higginson, the club chairman said: ‘This is a very emotional day for everyone connected with the Club – the volunteers, supporters, players, coaching staff and all the officers of the Club. We are all fans and feel it deeply.
“That said the Town has a very proud footballing history and a very determined character and, as in 1992, I have no doubt that a very strong new club will rise from this low.
“The difficult decision was taken by the board of directors after considering the financial impact of the suspension of all football activities due to the unprecedented impact of COVID-19, the unwillingness of the ground’s owner to consider either a long lease or sale on market terms and the ongoing fixed costs with no income prospects.”
A report from the Rhyl Journal says first-team staff members were notified of the decision.
The liquidation will also result in the disbandment of academy players and women’s sides.
Attention could now turn towards setting up a phoenix side. Rhyl Fans Association raised £3,469 through a GoFundMe fundraiser which may go towards supporting the new side.
It brings to an end 141 years of existence of a club which has tasted much success in Wales.
Rhyl had been a top-flight side in as recently 2017 and were crowned Cymru Premier champions in 2009.
