Final payments are made on Poppies’ CVA

Kettering Town chairman Ritchie Jeune
Kettering Town chairman Ritchie Jeune
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Kettering Town have confirmed that the final payments of their Company Voluntary Arrangement (CVA) have now been made.

In a statement today, the club revealed The Friends of the Poppies group had confirmed that a sum of £4,500 had been paid to solicitors Carter Clark.

The amount covers the final three payments of £1,500, meaning the total of £54,000 has now been paid off two months earlier than scheduled.

Kettering Town FC Management Limited entered the CVA in the summer of 2012 in an attempt to stop the club from folding.

A number of other financial battles have since been won, helping the club to get back on a solid footing at Latimer Park.

And they have now confirmed they will be looking to have the CVA discharged.

In a statement released today, the club said: “The Friends of the Poppies have today notified the chairman of Kettering Town Football Club (Ritchie Jeune) that the sum of £4,500 has been paid across to Carter Clark as the final payment of the CVA relating to Kettering Town FC Management Limited.

“This payment covers the final three payments of £1,500 per month and a total of £54,000 paid to Carter Clark. The CVA has effectively been paid off over two months early.

“Kettering Town FC Management Ltd will now request that the CVA be fully discharged and that the Limited Company be returned to its former trading status.

“The Friends would like to thank the following contributors of the final £30,000 - Kettering Town (Poppies) Supporters Trust, over 30 monthly contributors who have donated each month, over 25 contributors who have donated during part of the period and the countless numbers of fans, who have contributed in the buckets or donated part of their winnings in the KTFC or Trust competitions.

“Fans should also know that the initial £24,000 was met by the shareholders and also the Trust.

“Looking forward, The Kettering Town (Poppies) Poppies Supporters Trust and the Friends are to join forces for the benefit of the Club. Future appeals will be initiated by the Trust with the support of the Friends.

“Those regular contributors by bank transfer can continue to donate to the designated bank account should they so wish and the funds will be used for the benefit of the club.

“Of course those wishing to cease donations should now cancel their bank instructions.

“Once again a massive thank you to all who have made this appeal a great success.

“The Chairman and Directors wish to express their thanks to each and every contributor to this fund.

“We will now liaise with Carter Clark to have the CVA discharged.”