A.F.C Bournmouth is a football club in England with a history dating back to 1899.  They play at Dorset on the South Coast of England and even managed to beat Manchester United in the FA Cup back in 1984.

Since then the club fell on hard time. In January 1997 they were so broke that they resorted to “bucket collections” from fans to save the club. The club narrowly avoided liquidation then.

In February 2008, the club entered into administration for the second time with debts of about £4 million. Again they narrowly avoided liquidation.

Fast forward 7 years and A.F.C Bournmouth have now been promoted to the top league of English football, the Barclays Premier League. This will be the first time in the 116 year history of the club that they will play in the top flight of English football – after finishing first in the English League Championship.

The moral of the story? With a little luck, but more likely through sound insolvency advice, even the most grim situation may be turned around.

Unfortunately for most companies, administration can be the beginning of the end and survival seems like a fairy-tale.  Any company with financial concerns should reach out for early advice to give them the best opportunity to avoid administration and restore their business to the top of the league.