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Argyle go into administration

Crisis-torn Plymouth Argyle have gone into administration and will now step up their search for new owners.

The League One outfit, who lie bottom of the table and have already been docked 10 points, have appointed Brendan Guilfoyle of the P&A Partnership as its administrator.

An application by Her Majesty's Revenue & Customs to present the club with a winding-up petition was turned down at a High Court hearing on Friday.

Guilfoyle, who has has taken control of the club with immediate effect and will be assisted by insolvency lawyer David Hinchcliffe, is hoping to find a buyer for the club by March 17.

Guilfoyle revealed three parties had expressed an interest in acquiring the club but said there were plenty of obstacles to overcome.

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4131d ago