Date set for bid to end Quakers administration

A PROVISIONAL date for a meeting to bring the Quakers out of administration has been revealed.

Administrator Harvey Madden is aiming to put the company voluntary arrangement proposal before creditors on May 2.

The football club could then exit administration after a 28- day cooling off period.

While the meeting is later than had been hoped by fans, it is likely the club would still avoid dropping down two divisions if the CVA is agreed.

The club is already facing relegation to the Conference North division, but needs to emerge from administration having paid football creditors in full before the league’s annual meeting on June 9 to avoid dropping down a further division.

Mr Madden told The Northern Echo yesterday he was waiting for the final draft of the CVA proposal from DFC 1883.

He said: “We are working towards May 2 for the creditors meeting, although that’s not set in stone.

“That’s when the creditors will vote on the proposal.

Hopefully, they will go for it.

There is then a 28-day cooling off period.”

Mr Madden spoke to the new DFC 1883 chairman, Denis Pinnegar yesterday morning.

The administrator said: “He is confident he will get the support of businesses going forward – that’s what we need now.

“The supporters have put in as much money as they’re going to. It’s now down to the support of business and Darlington firms and I’m confident he will get that support.”

The DFC 1883 board hopes to pass the signed off CVA proposal to Mr Madden today.

Mr Pinnegar agreed that a key aim was to get the support of local companies, with a presentation to businesses planned for April 26.

He said: “We are looking to present a package to businesses to encourage them to support the club that their employees and, often themselves, have supported for many years “We’ve had a lot of business interest and we just need to capitalise on that.

“The aim is to encourage them to formalise their contributions.”