The full extent of the troubles faced by Worcester Warriors has been revealed following a harrowing report from the club's administrators.
The former Gallagher Premiership outfit, who went into administration in September, face debts of more than £30 million. The club's creditors received the findings via a report sent in by Begbies Traynor, a group of licensed Insolvency Practitioners.
The report also discloses that former owners Jason Whittingham and Colin Goldring, who have come under a barrage of criticism from fans, claim they are still owed more than £2m by the club's companies. There is however, ongoing negotiations with a consortium over the potential sale of the club.
Chief executive Jim O'Toole's and James Sandford's lead the consortium, having paid deposit of £500,000 to be able to negotiate exclusively. That period lasts until the end of November.
According to the BBC, report also reveals two of Goldring and Whittingham's other companies as being owed £2.085m by the club's trading arm, WRFC Trading Ltd. That figure however, amounts to a small fraction of the club's overall debts.
The club still owes the government £16.1m from their Covid Sports Survival loan, while Begbies Traynor claim the club still owe £2.1m in unpaid taxes to HM Revenue and Customs. With Warriors having been suspended and relegated by the RFU, both sanctions are still under appeal on a "no fault insolvency" basis by the administrators.
After hammering Newcastle Falcons at Sixways on September 24, Worcester's players went and shook hands with spectators, in what proved to be an emotional farewell. Days later the club was put intro administration and the gates were closed at the venue.
The in October, the club was officially relegated from the Gallagher Premiership. All players have since had their contracts terminated, with 20 confirmed in finding new teams.
Bath has proved the most popular destination, with Ollie Lawrence, Fergus Lee-Warner, Ted Hill, Valery Morozov (loan), Billy Searle, and Jamie Shillcock all heading to The Rec. Eight others have found fellow Premiership clubs.
