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London Welsh Rugby Club has announced it is seeking voluntary liquidation.
The club says its current business model is 'totally unsustainable' and it has no alternative.
London Welsh has reached a difficult point in its illustrious history. Due to a playing budget of £1.7million and gates at games numbering as low 400, the Club’s current business model is totally unsustainable.
The debts accrued from trading in this way have left the Club with no alternative but to seek liquidation. Having to break that news to 40 staff members yesterday was extremely difficult.
All creditors of London Welsh Rugby Club will be contacted by the liquidator.
In a statement issued this afternoon, the club said it is hoped the team will be able to return to playing at Old Deer Park, but first its business model will have to be changed to a semi-professional set-up.
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