BDO

BDO Headed Toward Liquidation.

The following notice was issued this afternoon:

The BDO’s commercial arm British Darts Organisation Enterprises Ltd files Notice of Intention to Appoint Liquidator.

BDO

The commercial arm of the British Darts Organisation – British Darts Organisation Enterprises Ltd – is set to file a Notice of Intention to appoint a liquidator in a move that will secure the future of grassroots membership darts in the UK.
British Darts Organisation Enterprises Limited was founded on 30 May 1980 and has its registered office in Tonypandy, Wales. It has been the commercial arm of the sportsmembership body the BDO, since its formation.
The Directors of the BDO have taken the difficult decision to liquidate the commercial arm as a result of the COVID crisis. British Darts Organisation Enterprises Ltd has faced increased cashflow pressure following the cancellation of a major event in Spain on the very day the country went into lockdown and due to social distancing, for the foreseeable future we are not able to run any of our other events.

Given this the company faced a cashflow crisis
which it could not trade out of. A BDO Director, stated:

“The British Darts Organisation has a long and proud record of standing by and for its members. Today’s announcement does not change that in the least. Our focus is ensuring the longevity of the organisation and despite this setback and some tough decision making, we are committed to making the BDO a successfor its members. British darts is safe.”
“We are and will remain totally focused on our members and the Notice of Intention to appoint a liquidator does not change this.”

A Creditors’ Voluntary Liquidation (CVL) is a formal insolvency procedure which involves the directors of an insolvent company voluntarily choosing to bring their business to an end.

The Directors will work closely with the Administrator to ensure creditor claims are addressed.

However, our message to the membership is that our organisation is financiallysecure and that our commitment to British darts as a sport for everyone remains now and in the future,” concluded a BDO Director.