A historic Portuguese football club faces a formal request for its closure from its insolvency administrator, reversing a September decision to allow it to continue operations.
The insolvency administrator for Boavista Football Club submitted the request to the Commercial Court of Gaia, which is overseeing the club’s ongoing insolvency proceedings.
This action follows a significant accumulation of debt within the club’s insolvency estate. The Creditors’ Commission also indicated its recommendation for the club’s shutdown.
In particular, two of the club’s largest creditors, the Portuguese Tax Authority and the construction firm Somague, specifically requested the closure in a new opinion issued this month.
This latest development overturns a decision made in September that had allowed the club to continue its activities despite its financial difficulties.
The Commercial Court of Gaia now holds the responsibility to issue a decree on whether the Boavista Football Club will ultimately cease operations.