Debts force Airdrie into liquidation
The Scottish First Division club Airdrie have gone into liquidation with debts totalling £750,000.
An extraordinary general meeting has been arranged for next Monday to discuss a change of constitution which could ensure the club's survival.
Currently no shareholder is allowed to own more than 10% of the shares - a ruling that could be changed at the EGM to allow new investors to become involved.
The club's provisional liquidator, Blair Nimmo of KPMG Corporate Recovery, said: "The club has first-class facilities and is an important institution within Scottish football. It just needs new investment."
Airdrie's problems deepened yesterday when Rangers froze the struggling club's share of the gate receipts for Sunday's Scottish Cup tie at Dundee United. The Ibrox chairman David Murray applied for an interdict on behalf of his company Carnegie for a £30,000 debt owed by Airdrie.