Burnley FC crisis deepens as parent company is threatened with liquidation

Freefalling Burnley FC’s worries have deepened after the club’s parent company, Velocity Capital (UK) Holdings, received a compulsory strike-off notice. The Clarets, who were relegated from the Premier League last season, are in the bottom three of the Championship, with just one win from their first 12 games, and currently without a permanent manager. The US-owned Lancashire club are also heavily indebted, with £142m of borrowings, including more than £100m owed to banks and other external lenders. Now Companies House has issued a warning over immediate parent Velocity Capital’s accounts, which are almost two years overdue. Unless the issue is resolved within a statutory two-month window, Velocity Capital could be dissolved and its assets passed to the Crown. This is not the company’s first strike-off notice. It received an identical warning in February last year and resolved the issue satisfactorily within a month. The delay may be down to Burnley’s multi-layered ow