A failure to reach agreement with creditors on 14 June 2012 led to The Rangers Football Club Plc (since renamed RFC 2012 Plc)[76] entering the process of liquidation.[77]
After the CVA proposal was rejected, the Administrators completed a going concern sale of the business and assets to a new company Sevco Scotland Ltd, later renamed The Rangers Football Club Ltd.[78][79] When the new company failed to secure the club's previous place in the Scottish Premier League,[80] Rangers were accepted into the Scottish Football League and placed in the lowest division, the Third, rather than the First Division as the SPL and SFA had sought.[81] The transfer of Rangers' SFA membership was agreed by the SFA upon acceptance of a number of conditions, including a one-year transfer ban, in time for the club to begin the 2012–13 season.[82]
Hibeejim, off topic but note The 'sevco' Rangers have played in only one minor lost cup final and at the moment they are still operating at a loss in spite of the high number of fans that support them!
After the CVA proposal was rejected, the Administrators completed a going concern sale of the business and assets to a new company Sevco Scotland Ltd, later renamed The Rangers Football Club Ltd.[78][79] When the new company failed to secure the club's previous place in the Scottish Premier League,[80] Rangers were accepted into the Scottish Football League and placed in the lowest division, the Third, rather than the First Division as the SPL and SFA had sought.[81] The transfer of Rangers' SFA membership was agreed by the SFA upon acceptance of a number of conditions, including a one-year transfer ban, in time for the club to begin the 2012–13 season.[82]
Hibeejim, off topic but note The 'sevco' Rangers have played in only one minor lost cup final and at the moment they are still operating at a loss in spite of the high number of fans that support them!