Duff & Phelps £4m shortfall


Following on from the SFA issuing an important announcement just as the Olympics opening ceremony was getting underway (Mr Regan, take a long hard look in the mirror), Duff and Phelps yesterday issued their final progress report to creditors of The Rangers Football Club PLC (in administration), recently renamed RFC 2012 PLC.

….On a Sunday, when the Ryder Cup was guaranteed top dominate sports reporting.  Anyone would think they didn’t want you to read it.

Take your time to read the report in detail here.  For those of us who follow football finances there is a treasure trove of information seldom revealed in this detail.

During the period in administration covered by the report, 14 February 2012 to 25 September 2012, the club incurred trading shortfall of £4,007,635.  Quite a remarkable figure.

The administrators received £2,457,420 remuneration on 10 August while the club paid £1,325,756 in legal fees as well as over £400k in legal and administration disbursements.

Buried (very) deep into the report is money paid to PR companies.  They paid Spreckley £28,941 for media consulting in relation to the administration.  They also paid Media House £141,441 for media consultancy in relation to the company.  Is this another remarkable figure?  Some creditors may be surprised but there is none here. Duff and Phelps will no doubt be prepared to explain to creditors the value they gained from this expenditure on their behalf at the forthcoming creditors’ meeting.

Duff and Phelps will soon be discharged and the club will be handed over to BDO who will liquidate it.

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  1. SmashingMilkBottles on

    Don’t throw away your old shoe polish tin lids.



    Send them to:



    Mrs A Bansbury


    12 Harmony Place


    Romford Essex



    ….and she will throw them away for you.



    (Not sure if this was a top tip from Viz or Monty Python book)

  2. Dontbrattbakkinanger on

    ‘Having bought his first guitar from future Police guitarist Andy Summers, Stewart traded in his electric guitar for an acoustic guitar when he was offered a weekly slot at Bunjies Coffee House in London’s Soho in 1965. From there, he went on to compere at the Les Cousins folk club on Greek Street, where he played alongside Cat Stevens, Bert Jansch, Van Morrison, Roy Harper and Ralph McTell.



    It was at this time that Stewart also met Yoko Ono, who persuaded him to part with the only £100 he had in the world to put towards her film entitled No 4, a compilation of naked bottoms’



    -lifted from Wiki/EWTB/EWLM.



    Clearly Ms Ono would have got a dustier response from Embrocation main man Dick Byrne if she’d asked him for £100 towards her buttock based cinematography.



    No flies on ole Dick..

  3. South Of Tunis 16:23



    Duncan Browne ?



    I only heard Journey for the first time about 3 years ago. Bought the album and as Miki67 says it stands the test of time.



    I’ll make no comment on The Nice.

  4. Sammi, AFAIK had a hot streak at the start of the 2008/9 season and then got injured (as usual).



    End of hot streak for quite a while.

  5. petec




    12:59 on 1 October, 2012







    12:13 on 1 October, 2012



    HamiltonTim , you no talking to me ?



    petec , noticed a post earlier during the madness last night . believe you’re a bellsmyre lad . where from and when ? myself – murroch avenue , glenside





    Muir Road just round the corner and we moved around about 1981. I cannae remember the exact number but it was something like 9/10 right across from the building that had the big fire.



    *first job I got after leaving school was up Glenside, so long ago and far away.

  6. gillian i scream on

    Much being made of the daily record’s attitude towards all things Sevco but let’s not forget exactly what the daily record is, namely a rebadged daily mirror for the tartan market once owned by Czech born tax dodging pension fund thief Mr Robert Maxwell who’s business dealings would make Murray white and green look positively angelic.What chance SDM ‘falling off his yacht’ once the writs start hitting the fan ?

  7. so my team won the quiz on a tie-breaker without my ‘help’


    I now have to try and live this down after telling them there were to many smart folk on here for them to have a chance – cheers ya balmpots !


    Well done All.

  8. setting free the bears,



    Very good.



    It must be said though that he was also a proponent of ‘Barcagal’ – Jim McGuinness’s style of football over the last 2 years-:)



    Árd Macha

  9. South Of Tunis on

    The Pantaloon Duck @ 16 29 .



    Aaargh .



    Memories of a mate whose idea of hospitality was an enamel mugful of Camp coffee and half a packet of Nice biscuits .



    Truly not nice

  10. wdh



    Did your team win the tie breaker on the question of how many caps did the Lisbon Lions earn?



    If so, I think it was a bit unfair. They answered whilst Tommy Twists Tommy Turns was still taking off his socks and shoes to aid his computation.



    Hand back the title to TTTT! Justice for the Dyscalculic!

  11. SFTB


    so they tell me nearest with 117 ?


    TTTT has only got 67 toes at last count so no contest.

  12. Keep your Nick Drakes,Al Stewarts and LeoSayer, I,m off to see the mighty Ray Davies at the Royal Concert Hall on Oct 12th. Now theres a Legend- He,s Not Like Everybody Else!!!! Hail Hail Hebcelt

  13. I don’t know with who I spoke last night on the blog about Spartak players. I said that Wellington was back to trainings after injury but won’t play against Celtic.


    The truth is he is ready and will probably play part of the game.


    About 45 000 fans will watch the game at the stadium.

  14. I don’t have many bad memories from my childhood, but ‘Nice’ biscuits are definitely up there. Truly shocking.

  15. Neil canamalar Lennon hunskelper extrordinaire


    15:21 on 1 October, 2012





    so murray park is a freehold





    See ah hink we need tae hae a gid luk et ra deeds an’at know?



    Bring back bummer Broon, for me that was one of THE best bits.



    Hail Hail,



  16. Have the SNP started campaigning to have JJB saved seeing all the jobs that will be lost.



    I remember they were very vocal when Rangers went into administration.




  17. I was expecting tomorrow’s game to be on ITV since it is a Tuesday, but don’t see it listed.



    Is it only being shown on Setanta Ireland?



    Just found out I’m meetings until 5pm tomorrow as well. Not happy.

  18. Custard Creams are Britain’s most dangerous biscuits, it was revealed after a study claimed an estimated 25 million people in Britain had been injured by biscuits.



    Hidden dangers included flying fragments and daredevil dunking in scalding tea. And custard creams were the worst offenders, posing the biggest risk to innocent dunkers.



    Around 500 people a year need hospital treatment because of biscuit injuries.

  19. Greetings, long time lurker, sometimes say a few things. But about the Asian abusers. I have posted on here about the case of hollie greig before, utterly shameful and horrific abuse of power by the greatest wee country in the world, just goes to show how inhumane our country is when this has never been documented in the press, and the power of the political, all of whom are put there by us, the people. We put them there to look after our interests, our lives, yet we accept every piece of nonsense that they decide. They are civil servants all of them, they work for us, and we decide not them. If we don’t like what their doing, we tell them, we have to stop being so complicit. this is our country, not theirs. Just such a shameful story, read it and decide for yourselves. I mean have you ever heard of someone being jailed for breach of the peace, really.

  20. time for change



    13:04 on 1 October, 2012



    .how come this new team has had more home draws in less than six months than we have in six years (just asking…laws of probability and all that)






    Also, what time is the kickoff tomorrow and what channel are showing it, been getting conflicting info. Cheers for any help

  21. Sorry, rant over, I’m actually an ok guy, but some things just p me off. On another subject, win tomorrow :)

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