Administrators expected to detail plans for Inverness Caledonian Thistle on Thursday
THE firm that have been appointed to deal with the administration process at Inverness Caledonian Thistle are expected to detail their plans tomorrow.
It has been confirmed BDO will hold a press conference on Thursday to speak about their plans of how administration will impact the financially stricken League One club.
It was confirmed last night that Inverness Caledonian Thistle had officially gone into administration with BDO appointing Malcolm Cohen, Shane Crooks and James Stephen as the joint administrators who will handle the case.
Staff and players are expected to hear within the next 24 hours how administration will impact the club and how many job losses it will result in.
In addition, Inverness Caledonian Thistle have been deducted 15 points as a result of going into administration. It has resulted in them dropping to the foot of the League One table on -3 points.
They are now 12 points behind Dumbarton in ninth, with Inverness set to travel to Dumbarton on Saturday.
Speaking about being appointed administrators yesterday, BDO released a statement which said: “We can confirm a formal appointment has been made and Inverness Caledonian Thistle is now in administration.
“We understand this will be a difficult and uncertain time for the club, its staff, its loyal fan base and the local community.
“The administrators will be in a position to provide further information and their plan to seek to secure the long term future of the club in due course.”
Former interim chairman Panos Thomas, who resigned from his position earlier this month, wrote to shareholders that the club was facing a loss of £1.2 million in the current season.
He said in the letter that the amount of money the club required to get to the end of the season was in the region of £1.4 to £1.6 million.
The crowdfunding scheme has just raised over £87,000, leaving £113,000 short of what they said was required to avoid administration this month.
Despite not reaching the target, all donations made will still go towards running the club and helping with any administration costs.