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Goals Soccer Centres plays defence against Sports Direct

Troubled Goals Soccer Centres has confirmed that it received a letter on 14 June 2019 from Sports Direct International plc, the firm’s largest single shareholder with just under 19%, and responded on 18 June. Reports on Sky News suggest that Sports Direct CEO Mike Ashley called on Goals Soccer Centres to hire corporate investigator Kroll and warned of potential further action if this step was not taken.

Goals Soccer Centres reiterated that it has engaged forensic accountants to analyse historical accounting errors and policies. The company has also appointed other independent advisors to assist it in examining its historic treatment of VAT as well as its ongoing discussions with HMRC. It is also in the process of engaging Deloitte to work alongside its current advisors and its lenders in assessing the company’s future.

Goals’ board believes that it does not need to appoint further advisors at this time. The company has appointed Mike McGill as interim Chief Financial Officer. McGill, who is not a director of the company, replaces Martin Johnson who previously held the role on an interim basis and leaves on 31 July.

The company’s annual general meeting on 28 June is likely to prove stormy.

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