Inverness Caledonian Thistle have officially been placed in administration
It has been confirmed Inverness Caledonian Thistle have officially gone into administration.
The League One outfit released a statement on Tuesday evening confirming the news as it continues to fight against financial problems which threatens its survival.
It has been revealed James Stephen, Malcolm Cohen and Shane Crooks at BDO have been appointed joint administrators of Inverness Caledonian Thistle.
As a result, Inverness Caledonian Thistle have been deducted 15 points and have dropped to the bottom of League One. They are now 12 points behind Dumbarton in ninth place.
BDO released a statement saying they have been appointed administrators of the club.
A spokesperson said: “We can confirm a formal appointment has been made and Inverness Caledonian Thistle is now in administration.
“We understand this will be a difficult and uncertain time for the club, its staff, its loyal fan base and the local community.
“The administrators will be in a position to provide further information and their plan to seek to secure the long term future of the club in due course.”
Former interim chairman Panos Thomas, who resigned from his position earlier this month, wrote to shareholders that the club was facing a loss of £1.2 million in the current season.
He said in the letter that the amount of money the club required to get to the end of the season was in the region of £1.4 to £1.6 million.
The crowdfunding scheme has just raised over £87,000, leaving £113,000 short of what was they said was required to avoid administration this month.
Despite not reaching the target, all donations made will still go towards running the club and helping with any administration costs.
Read: What happens now Inverness Caledonian Thistle have been placed into administration?
