kings rugby liquidation

Following the news of the liquidation, it was also announced that the Kings wouldn’t play again until the new year due to the ongoing pandemic. 9:00am, 19 September 2020. JOHANNESBURG - The Southern Kings have been placed in liquidation due to a R55 million debt, South African Rugby announced Saturday. It first needs to find the R18-million owed to the Kings players before the liquidation deadline. The future of Southern Kings, the struggling Guinness PRO14 franchise, has been plunged into further turmoil after the board of SA Rugby placed the insolvent company into voluntary liquidation to secure the longer-term financial future of rugby in Eastern Province. South African franchise the Southern Kings have been placed in liquidation due to a 55 million rand ($3.35 mn/2.84 mn euros) debt, South African Rugby announced Saturday. The shareholders – the Eastern Province Rugby Union (EPRU) and SA Rugby – took the decision in the face of an accumulated deficit of R55 million, and with zero income in prospect for the remainder of 2020. The South African Rugby Union (SA Rugby) has placed the Southern Kings into voluntary liquidation because of debts of R55 million ($3.37 million) and no chance of generating any income this year. JOHANNESBURG - South African franchise the Southern Kings have been placed in liquidation due to a R55-million debt, South African Rugby announced Saturday. SA Rugby has placed the insolvent Southern Kings company in voluntary liquidation to secure the longer-term financial future of rugby in Eastern Province.. Andre Rademan, Kings board chairman, said: Like the Central Cheetahs, the Kings were unable to … Kings had already suspended all rugby … Kings go into liquidation SA Rugby yesterday announced that the Southern Kings franchise have been placed in liquidation due to R55 million debt, according to a report in supersport.com. REUTERS: South African Rugby (SA Rugby) has placed the Southern Kings into voluntary liquidation because of debts of R55 million (US$3.37 million) and … Southern Kings have been put into voluntary liquidation, throwing further doubt on the future of the South African Pro14 franchise. South African Rugby (SA Rugby) has placed the Southern Kings into voluntary liquidation because of debts of R55 million ($3.37 million) and no chance of generating any income this year, Reuters reported.

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