Hibs debt situation explained by Hibs Supporters Ltd Chairman.

[cazzyy]

20 minutes ago, Pans Jambo said:

I cry for Ormiston Jambos!

 

It's not that bad, you get to flick the vickie's every time you pass the road end. Childish I know, but it just has to be done. 

[One five]

6 hours ago, EIEIO said:

Originally they were Hibernians then Hibernian , must be Hibernia next?

I’ve read a little about that did they actually go bust and start up again ?

[DG_HMFC]

Broken crest on the front pages of our national news papers any time soon? 

[Jambo dans les Pyrenees]

2 hours ago, Ex member of the SaS said:

Some on .net seem to have grasped the reality, even if they voted it down,  it will still go ahead and there is nothing they can do about it. TBF this COULD go one way or the other, better players/more cash OR goodbye Hibs hello flats.

The owners have no real connection after their father died other then a slight sentimentality aspect and will dump them when things get tough. It appears their CEO is on huge money but that can't last as debt mounts up. The Black Knights thingy are not doing this to make money and it can only be to offload costs for players or as a tax conn.

Breasts skywards looks the most likely scenario.

Lorient

[buzzbomb1958]

1 hour ago, Sooks said:

Always just assumed Hibs supporters lived in holes in the ground . Some kind of loosely assembled primitive shelter made of branches leaves perhaps 

You are insulting Hedgehogs now and as they are my favourite animal I’d would ask you to cease and desist sooky boy🧐

[merrymac]

1 minute ago, buzzbomb1958 said:

You are insulting Hedgehogs now and as they are my favourite animal I’d would ask you to cease and desist sooky boy🧐

Bit prickly there mate 

[buzzbomb1958]

1 minute ago, merrymac said:

Bit prickly there mate 

I get your point🦔🦔🦔🦔

[merrymac]

2 minutes ago, buzzbomb1958 said:

I get your point🦔🦔🦔🦔

Definitely not a Hibs hog this one too clean

[buzzbomb1958]

Just now, merrymac said:

Definitely not a Hibs hog this one too clean

No chance

[EIEIO]

37 minutes ago, One five said:

I’ve read a little about that did they actually go bust and start up again ?

Think so , around the 1890s no expert though.

[i8hibsh]

I want relegation after relegation for these ***** but would never ever want them to be no more. My interest in football as a whole nowadays is dwindling with every season but beating these ***** and laughing at them is my heroin injection.

 

Think about it.....would you really embrace the prospect of never having another Edinburgh derby (a proper one) ever again? I want to draw them in the cup every year when they are in a lower leagues and destroy them.

[One five]

2 minutes ago, EIEIO said:

Think so , around the 1890s no expert though.

Yeah there’s not much about it as far as I know.

[Sooks]

2 minutes ago, buzzbomb1958 said:

You are insulting Hedgehogs now and as they are my favourite animal I’d would ask you to cease and desist sooky boy🧐

love a wee hedgehog myself mate . I was thinking more along the lines of a rat hole tbf

[John Findlay]

28 minutes ago, buzzbomb1958 said:

You are insulting Hedgehogs now and as they are my favourite animal I’d would ask you to cease and desist sooky boy🧐

 

8 minutes ago, Sooks said:

love a wee hedgehog myself mate . I was thinking more along the lines of a rat hole tbf

Pair of Pr1cks🤣

[Sooks]

Just now, John Findlay said:

 

Pair of Pr1cks🤣

Sent shivers down my spine that

[John Findlay]

2 minutes ago, Sooks said:

Sent shivers down my spine that

🤣

[Pans Jambo]

1 hour ago, cazzyy said:

 

It's not that bad, you get to flick the vickie's every time you pass the road end. Childish I know, but it just has to be done. 

😁

[gorgie rd eh11]

2 hours ago, One five said:

I’ve read a little about that did they actually go bust and start up again ?

 

 They were liquidated in 1991. Tom Farmer bought the football part of the business but in todays terms they were gone.

[Rods]

1 hour ago, i8hibsh said:

I want relegation after relegation for these ***** but would never ever want them to be no more. My interest in football as a whole nowadays is dwindling with every season but beating these ***** and laughing at them is my heroin injection.

 

Think about it.....would you really embrace the prospect of never having another Edinburgh derby (a proper one) ever again? I want to draw them in the cup every year when they are in a lower leagues and destroy them.

Yeh I am not wanting to lose the Edinburgh Derby. I would prefer for them to be on a drip and we just continue to compile their misery. 
 

We actually don’t need them to go bust we own them already and that’s owning is only going to continue in the near to long term future.

 

It’s going to be like the 90s again. 

[ToadKiller Dog]

If hibs were to die we would still have the derby, the newco hibs would not get the Orc helping hand into the 2nd division ,they would eventually play hearts B in the lowland league .

[jambo mark]

How on earth is that goon still CEO? He’s literally listed all their failures, which are signed off by him 🤣🤣🤣

 

Agent Kendall, return to base

[Footballfirst]

I expect that the proposals will be accepted at the AGM vote. There will then be some positivity for a short period, depending on the amount of money that they will be able to spend on the team. (It won't be a great amount going by their inherent loss making capability).

 

Problems will mount when Bydand and the Black Knights decide to sell up with the prospect of the buyer exercising their right to eliminate all the small shareholders.  I think Hibs have around 2,400 small shareholders

 

I'm sure that if that had happened at Hearts, 8,000 small shareholders would not be happy.

[AllyjamboDerbyshire]

30 minutes ago, gorgie rd eh11 said:

 

 They were liquidated in 1991. Tom Farmer bought the football part of the business but in todays terms they were gone.

I'm afraid Tom Farmer bought them out of administration, therefor they did not enter the liquidation process. All Hibs shareholders had to vote to accept Farmer's offer for it to be accepted, and with major shareholder Rowland voting against (he wanted to liquidate to make himself richer) it was believed that Duff would also vote against and that would have been that, Hibs would have been liquidated. Duff's votes arrived shortly before the deadline and he voted to accept, so Hibs didn't enter liquidation. 

[PortyBeach]

2 hours ago, One five said:

I’ve read a little about that did they actually go bust and start up again ?

It’s not clear if they went “bust”, but the club founded in 1875 ceased playing competitive football in 1891. 
The reason for this was mainly due to them losing their ground which was redeveloped by the Council.

With no permanent home and some of their better players defecting to the recently formed Celtic FC, they apparently decided to “suspend operations”.

The club acquired the present Easter Rd site two years later in 1893 and resumed playing football.

Make your own mind up as to whether all this means that the 1893 side was a new club.

Interestingly, Hibs invited Hearts to play a “friendly” at their new Easter Rd ground…

[Captain Scarlett]

12 hours ago, Jaap's Sigh said:

I seriously hope the ****ers go down the tubes. I’ll never forget or forgive their conduct during our administration.

 

Rot in hell you verminous, smelly tramps. 

Yip. Sums it up for me.

[One five]

7 minutes ago, PortyBeach said:

It’s not clear if they went “bust”, but the club founded in 1875 ceased playing competitive football in 1891. 
The reason for this was mainly due to them losing their ground which was redeveloped by the Council.

With no permanent home and some of their better players defecting to the recently formed Celtic FC, they apparently decided to “suspend operations”.

The club acquired the present Easter Rd site two years later in 1893 and resumed playing football.

Make your own mind up as to whether all this means that the 1893 side was a new club.

Interestingly, Hibs invited Hearts to play a “friendly” at their new Easter Rd ground…

Very interesting mate , cheers for that👍

[One five]

54 minutes ago, gorgie rd eh11 said:

 

 They were liquidated in 1991. Tom Farmer bought the football part of the business but in todays terms they were gone.

👍

[PortyBeach]

12 minutes ago, AllyjamboDerbyshire said:

I'm afraid Tom Farmer bought them out of administration, therefor they did not enter the liquidation process. All Hibs shareholders had to vote to accept Farmer's offer for it to be accepted, and with major shareholder Rowland voting against (he wanted to liquidate to make himself richer) it was believed that Duff would also vote against and that would have been that, Hibs would have been liquidated. Duff's votes arrived shortly before the deadline and he voted to accept, so Hibs didn't enter liquidation. 

Desperate to demonise Wallace Mercer, most Hibbies blind themselves to the fact that Rowland approached Mercer to “merge” the clubs. 
As you say, Rowland merely saw his shareholding in Hibs as a means of making himself richer…

[Footballfirst]

Coincidentally, HSL annual accounts (to 31/01/24 - very current) were lodged with Companies House today.  There is not much to them, but enough to work out how much they have raised, invested in shares and cash they have in hand.

 

 

The £769,800 is how much they invested in shares and currently own 15.4% of the club.

The Current Assets of £345,972 represents the cash that they currently hold.  They have accumulated that since STF sold out to Bydand and the club stopped issuing new shares. 

The difference between the £227,202 and £345,972 is the amount they have raised from contributors in the past 12 months, i.e. £118,770.

The "Reserves" of £1,115,772 represents the total amount they have raised, since the share purchase scheme started 9 years ago (possibly a little more to cover admin expenses).

[Footballfirst]

7 minutes ago, One five said:

Very interesting mate , cheers for that👍

A timeline about their demise and resurrection from the dead.

 

Season 1890-91

March, the Scottish Football League was set up with ten teams; however Hibernians were not invited to participate.
6th August, Hibs lost 2-0 to Hearts in the Edinburgh International Exhibition Cup.
27th September, Hibs lost a Cup second round game to St Bernards 9-1, this was to be the last first team Hibs game to be played at the old Easter Road, Hibernian Park.
February, after the SFA had examined the Hibs books (the treasurer had embezzled funds), for legal technicalities Hibs resort to playing under the name Leith Hibernian.

Due to financial problems and the lack of quality players, Hibs had to move out of their Hibernian Park. Trinity Hospital was to build houses on part of the pitch.
14th February, Leith Athletic played Hibs in a benefit match; this was the first time Hibs had been on the receiving end of a charity match.
28th February, Hibs played their only home game at the Hawkhill Recreation Ground against Mossend Swifts.
Hibs were no longer members of the Edinburgh Football Association.
Season results – Scottish Cup 2nd round

 

Season 1891-92

The ‘St Mary’s Star of the Sea’ CYMS took over the running of the club.
July, Hibs were put into abeyance until the affairs of the club could be resolved regarding the finances and the running of the club.
18th August, Hibs SFA membership was withdrawn due to non-payment of fees.
25th August, Hibs Second XI’s SFA membership withdrawn due to non-payment of fees.
Thomas Flood, left his job as a journalist in Glasgow and his place on the committee of Celtic to move to Edinburgh and join with others including, Philip and John Farmer, Charles Perry, Barney Lester and Thomas McCabe to help plan the reformation of Hibernians. It was at this time that they dropped the ‘s’ of the end of the name and where thereafter know as Hibernian Football Club.
1892 Hibs failed to play any games.
Season results – Scottish Cup (did not compete)

 

Season 1892-93

7th March, a meeting was held in the Buchan’s Temperance Hotel, on the High Street to plan the future of the club. Agreement was reached that it would be professional and non-sectarian.
October. A new ground was acquired from Trinity Hospital at the club’s current stadium location.
12th December. A revitalised Hibernian Football Club held their first meeting.
1893 Hibs were reformed after being disbanded.
4th February. Hibs play their first game at their new Easter Road Park; they lost in a friendly to Clyde 4-3.
13th March, Hibs membership of the SFA was re-instated.
28th March, Hibs beat an Irish International Select 2-0 at Easter Road.
Season results – Scottish Cup (did not compete)

 

Season 1893-94

June, Airdrieonians FC proposed a Second Division and invited Hibs to join.
17th July, Hibs joined the inaugural Scottish Football Second Division.

 

[gorgie rd eh11]

34 minutes ago, AllyjamboDerbyshire said:

I'm afraid Tom Farmer bought them out of administration, therefor they did not enter the liquidation process. All Hibs shareholders had to vote to accept Farmer's offer for it to be accepted, and with major shareholder Rowland voting against (he wanted to liquidate to make himself richer) it was believed that Duff would also vote against and that would have been that, Hibs would have been liquidated. Duff's votes arrived shortly before the deadline and he voted to accept, so Hibs didn't enter liquidation. 

 

Edinburgh Hibenian PLC went into liquidation in 1991.

[AllyjamboDerbyshire]

2 minutes ago, gorgie rd eh11 said:

 

Edinburgh Hibenian PLC went into liquidation in 1991.

Hibernian FC was not liquidated, and more than Hearts were. Both clubs successfully came out of administration.

[AllyjamboDerbyshire]

Just now, AllyjamboDerbyshire said:

Just now, AllyjamboDerbyshire said:

Hibernian FC was not liquidated, and more than Hearts were. Both clubs successfully came out of administration.

 

and = any

[gorgie rd eh11]

5 minutes ago, AllyjamboDerbyshire said:

Hibernian FC was not liquidated, and more than Hearts were. Both clubs successfully came out of administration.

 

So they were in administration? 

 

Edited February 9 by gorgie rd eh11
spelling

[1971fozzy]

If anyone wants a laugh , listen to that comedian Matty on their Longbangers podcast. 
He’s obviously not the full shilling but the pish he comes out with is definitely hilarious.  

[Hmfc1965]

9 minutes ago, AllyjamboDerbyshire said:

Hibernian FC was not liquidated, and more than Hearts were. Both clubs successfully came out of administration.

Is that quite right?

I haven't checked but I thought the parent company went into administration and didn't come out but the football club were hived off and sold to Tom Farmer.

 

[JTJ]

17 minutes ago, Footballfirst said:

A timeline about their demise and resurrection from the dead.

 

Season 1890-91

March, the Scottish Football League was set up with ten teams; however Hibernians were not invited to participate.
6th August, Hibs lost 2-0 to Hearts in the Edinburgh International Exhibition Cup.
27th September, Hibs lost a Cup second round game to St Bernards 9-1, this was to be the last first team Hibs game to be played at the old Easter Road, Hibernian Park.
February, after the SFA had examined the Hibs books (the treasurer had embezzled funds), for legal technicalities Hibs resort to playing under the name Leith Hibernian.

Due to financial problems and the lack of quality players, Hibs had to move out of their Hibernian Park. Trinity Hospital was to build houses on part of the pitch.
14th February, Leith Athletic played Hibs in a benefit match; this was the first time Hibs had been on the receiving end of a charity match.
28th February, Hibs played their only home game at the Hawkhill Recreation Ground against Mossend Swifts.
Hibs were no longer members of the Edinburgh Football Association.
Season results – Scottish Cup 2nd round

 

Season 1891-92

The ‘St Mary’s Star of the Sea’ CYMS took over the running of the club.
July, Hibs were put into abeyance until the affairs of the club could be resolved regarding the finances and the running of the club.
18th August, Hibs SFA membership was withdrawn due to non-payment of fees.
25th August, Hibs Second XI’s SFA membership withdrawn due to non-payment of fees.
Thomas Flood, left his job as a journalist in Glasgow and his place on the committee of Celtic to move to Edinburgh and join with others including, Philip and John Farmer, Charles Perry, Barney Lester and Thomas McCabe to help plan the reformation of Hibernians. It was at this time that they dropped the ‘s’ of the end of the name and where thereafter know as Hibernian Football Club.
1892 Hibs failed to play any games.
Season results – Scottish Cup (did not compete)

 

Season 1892-93

7th March, a meeting was held in the Buchan’s Temperance Hotel, on the High Street to plan the future of the club. Agreement was reached that it would be professional and non-sectarian.
October. A new ground was acquired from Trinity Hospital at the club’s current stadium location.
12th December. A revitalised Hibernian Football Club held their first meeting.
1893 Hibs were reformed after being disbanded.
4th February. Hibs play their first game at their new Easter Road Park; they lost in a friendly to Clyde 4-3.
13th March, Hibs membership of the SFA was re-instated.
28th March, Hibs beat an Irish International Select 2-0 at Easter Road.
Season results – Scottish Cup (did not compete)

 

Season 1893-94

June, Airdrieonians FC proposed a Second Division and invited Hibs to join.
17th July, Hibs joined the inaugural Scottish Football Second Division.

 

In a book about Hibs (borrowed from a Hibs fan at work), there was a big bit about the meeting in the Buchanan Hotel. The Publican asked them if they were any connection to "The Irishmen" as he was owed a sum of money. They answered "No, nothing to do with them".  

[One five]

22 minutes ago, Footballfirst said:

A timeline about their demise and resurrection from the dead.

 

Season 1890-91

March, the Scottish Football League was set up with ten teams; however Hibernians were not invited to participate.
6th August, Hibs lost 2-0 to Hearts in the Edinburgh International Exhibition Cup.
27th September, Hibs lost a Cup second round game to St Bernards 9-1, this was to be the last first team Hibs game to be played at the old Easter Road, Hibernian Park.
February, after the SFA had examined the Hibs books (the treasurer had embezzled funds), for legal technicalities Hibs resort to playing under the name Leith Hibernian.

Due to financial problems and the lack of quality players, Hibs had to move out of their Hibernian Park. Trinity Hospital was to build houses on part of the pitch.
14th February, Leith Athletic played Hibs in a benefit match; this was the first time Hibs had been on the receiving end of a charity match.
28th February, Hibs played their only home game at the Hawkhill Recreation Ground against Mossend Swifts.
Hibs were no longer members of the Edinburgh Football Association.
Season results – Scottish Cup 2nd round

 

Season 1891-92

The ‘St Mary’s Star of the Sea’ CYMS took over the running of the club.
July, Hibs were put into abeyance until the affairs of the club could be resolved regarding the finances and the running of the club.
18th August, Hibs SFA membership was withdrawn due to non-payment of fees.
25th August, Hibs Second XI’s SFA membership withdrawn due to non-payment of fees.
Thomas Flood, left his job as a journalist in Glasgow and his place on the committee of Celtic to move to Edinburgh and join with others including, Philip and John Farmer, Charles Perry, Barney Lester and Thomas McCabe to help plan the reformation of Hibernians. It was at this time that they dropped the ‘s’ of the end of the name and where thereafter know as Hibernian Football Club.
1892 Hibs failed to play any games.
Season results – Scottish Cup (did not compete)

 

Season 1892-93

7th March, a meeting was held in the Buchan’s Temperance Hotel, on the High Street to plan the future of the club. Agreement was reached that it would be professional and non-sectarian.
October. A new ground was acquired from Trinity Hospital at the club’s current stadium location.
12th December. A revitalised Hibernian Football Club held their first meeting.
1893 Hibs were reformed after being disbanded.
4th February. Hibs play their first game at their new Easter Road Park; they lost in a friendly to Clyde 4-3.
13th March, Hibs membership of the SFA was re-instated.
28th March, Hibs beat an Irish International Select 2-0 at Easter Road.
Season results – Scottish Cup (did not compete)

 

Season 1893-94

June, Airdrieonians FC proposed a Second Division and invited Hibs to join.
17th July, Hibs joined the inaugural Scottish Football Second Division.

 

Thank you 👍

[Footballfirst]

8 minutes ago, JTJ said:

In a book about Hibs (borrowed from a Hibs fan at work), there was a big bit about the meeting in the Buchanan Hotel. The Publican asked them if they were any connection to "The Irishmen" as he was owed a sum of money. They answered "No, nothing to do with them".  

I think it was John Mackay's book on the history of Hibs.

 

Here is an extract of a Scotsman article from October 1892 about the meeting discussing reforming Hibs.

 

'RESUSCITATION OF THE HIBERNIAN CLUB.

A meeting to consider the advisableness of resuscitating the Hibernian Football Club was held last night in St. Mary's Street Upper Hall. There was a crowded attendance and Mr. C. Sandilands was called to the chair.

 

In his opening remarks, the CHAIRMAN said the gentlemen interested in the promotion of the club wished it to be distinctly understood that it would be promoted on somewhat different lines from the old club. They desired it should be non-sectarian. They desired also to keep clear of the old committee and up to the present time had had nothing to do with them.

 

He then proceeded to give a statement of what they had already done towards reviving the club, mentioning that the promoters had their eye on a field which they had hopes of securing. Up to that time they had guarantees of £115 which however was nothing like sufficient to start the club. He intimated that they desired to open with a first class team and a first class ground.

 

He concluded by inviting suggestions; and after several questions had been put and answered, MR. FLOOD moved a resolution declaring that the formation of the Hibernian Football Club had now become an urgent necessity, and empowering those willing to join to proceed to make any preliminary arrangements they might think fit. This was seconded by Mr. Mitchell and unanimously adopted.

 

On the motion of Mr. Galwin it was agreed to accept five shillings from anyone present towards the guarantee fund, that sum afterwards to go towards their first membership ticket. The CHAIRMAN intimated before the meeting ended that the guarantee fund had risen to £130 and names were then taken of persons desirous of guaranteeing with a view to membership, a good number going forward.'

Edited February 9 by Footballfirst

[JAYEL]

4 hours ago, Lone Striker said:

Just out of interest, who's the Evening Hobo's equivalent of Banderson ?

I don’t know but they are usually the cheerleaders of all things hibs

 

Maybe they are not 100% confident in what this deal brings to hibs and are staying to out of it  in case there is damage later down the line

[The Old Tolbooth]

11 hours ago, gorgie rd eh11 said:

 

And not for the first time. In 1991 Edinburgh Hibernian PLC went into liquidation, Farmer bought the football side of the business. They've brushed that under the carpet though, because they always do things the right way.

Exactly mate, they go on about us stiffing our creditors, but back then they went into receivership and not liquidation, it’s pretty much the same as administration, and they stiffed everyone going and conveniently forget that they did this, I have a family member who almost went out of business because of the money he didn’t get paid from them for work done, snd yet they claim they paid everyone off, it’s bullshit! 
 

Long may they rot! 

[AllyjamboDerbyshire]

Thinking more about it I don't I think they went into administration which was delayed because of the Mercer bid. Basically, if Farmer had lost, Rowland and his puppet Duff would have passed a motion to sell the club to Mercer, or have put the club into administration or even straight into voluntary liquidation. It was a real mess, with Hibs almost certain to have died a natural death if Wallace Mercer had told Rowland/Duff to bolt when they touted the club to him as the publicity surrounding the bid, and the delay it caused, brought Hibs' plight to Farmer's notice (he was not interested in football) and so he had time and motivation to get involved.

 

Edinburgh Hibernian PLC was the parent company for a number of limited companies, including Hibernian FC Ltd. Farmer bought Hibernian FC Ltd from the parent company which was then closed down.

[Section Q]

9 hours ago, RustyRightPeg said:

 

He can't go above a certain % (29 I think) as it would put effect Hibs in Europe...should Bournemouth or Lorient ever make it. I think that's the terms of it. 

When Bournemouth get relegated, and they will, we'll see how much of an interest Foley has for Football, let alone Hibs.

[Section Q]

7 hours ago, Shanks said no said:

East Lothian Hobos when they have to sell the ground, won't be able to afford land in the Capital.

Feeder club for Ormiston Primrose.......😁😁

[Footballfirst]

9 minutes ago, AllyjamboDerbyshire said:

Thinking more about it I don't I think they went into administration which was delayed because of the Mercer bid. Basically, if Farmer had lost, Rowland and his puppet Duff would have passed a motion to sell the club to Mercer, or have put the club into administration or even straight into voluntary liquidation. It was a real mess, with Hibs almost certain to have died a natural death if Wallace Mercer had told Rowland/Duff to bolt when they touted the club to him as the publicity surrounding the bid, and the delay it caused, brought Hibs' plight to Farmer's notice (he was not interested in football) and so he had time and motivation to get involved.

 

Edinburgh Hibernian PLC was the parent company for a number of limited companies, including Hibernian FC Ltd. Farmer bought Hibernian FC Ltd from the parent company which was then closed down.

To the best of my knowledge, it was Hibs parent company Forth Investments that went into receivership.  Farmer then bought the club from the receivers.  Hibernian Football Club Ltd, today, has the same company number (SC005323) as when it was incorporated in 1903.

[gorgie rd eh11]

16 minutes ago, The Old Tolbooth said:

Exactly mate, they go on about us stiffing our creditors, but back then they went into receivership and not liquidation, it’s pretty much the same as administration, and they stiffed everyone going and conveniently forget that they did this, I have a family member who almost went out of business because of the money he didn’t get paid from them for work done, snd yet they claim they paid everyone off, it’s bullshit! 
 

Long may they rot! 

 

10 minutes ago, AllyjamboDerbyshire said:

Thinking more about it I don't I think they went into administration which was delayed because of the Mercer bid. Basically, if Farmer had lost, Rowland and his puppet Duff would have passed a motion to sell the club to Mercer, or have put the club into administration or even straight into voluntary liquidation. It was a real mess, with Hibs almost certain to have died a natural death if Wallace Mercer had told Rowland/Duff to bolt when they touted the club to him as the publicity surrounding the bid, and the delay it caused, brought Hibs' plight to Farmer's notice (he was not interested in football) and so he had time and motivation to get involved.

 

Edinburgh Hibernian PLC was the parent company for a number of limited companies, including Hibernian FC Ltd. Farmer bought Hibernian FC Ltd from the parent company which was then closed down.

 

So the parent company was liquidated, people were shafted, Farmer bought the football side, and they kid on nothing changed. Excellent, creditors shafted, jobs lost and lives ruined. But everything brushed under the bigs hibs carpet so all good.

******* hypocrites.

[dannymack]

19 hours ago, Section Q said:

Interesting wee read...........

 

 

""The Easter Road club this week published their financial accounts for the year to June and they made for some worrying reading. They made a £3.9million loss and had a wage-to-turnover ratio of 81 per cent.""

 

""We have moved from a situation of no debt to a situation of £5.7 million in debt, that’s just to the Gordon family alone.”"

 

 

https://www.footballscotland.co.uk/spfl/scottish-premiership/bill-foley-hibs-involvement-heartbreaking-28596010

 

Hope they ****in die 

[The Old Tolbooth]

15 minutes ago, gorgie rd eh11 said:

 

 

So the parent company was liquidated, people were shafted, Farmer bought the football side, and they kid on nothing changed. Excellent, creditors shafted, jobs lost and lives ruined. But everything brushed under the bigs hibs carpet so all good.

******* hypocrites.

Oh people were shafted no doubt mate, but they  deffo weren’t liquidated in 1991, it was receivership which is a form of administration, but back then there were no penalties in Scottish football for clubs in receivership, otherwise they’d be facing a 15 point deduction and transfer sanctions the following season and almost certainly would be relegated, but don’t let any of them tell you that they didn’t shaft anyone! 

[gorgie rd eh11]

1 minute ago, The Old Tolbooth said:

Oh people were shafted no doubt mate, but they  deffo weren’t liquidated in 1991, it was receivership which is a form of administration, but back then there were no penalties in Scottish football for clubs in receivership, otherwise they’d be facing a 15 point deduction and transfer sanctions the following season and almost certainly would be relegated, but don’t let any of them tell you that they didn’t shaft anyone! 

 

Edinburg Hibernian PLC were liquidated in 1991. Good enough for me.

[Famous 1874]

Party hats job at ER needed. Except we won’t Hibsit