Arena Coventry Limited – administration

Arena Coventry Limited, the owner of Coventry Building Society Arena, along with Arena Coventry (2006) Limited and IEC Experience Limited, each filed a notice of intention to appoint administrators on October 17, and the companies recently confirmed that they anticipate administration orders will be made in the coming weeks. The companies also confirmed that proposed administrators from FRP Advisory have run an accelerated sales process, with a preferred bidder having been identified. The preferred bidder is rumoured to be former Newcastle United owner Mike Ashley, while City owners Sisu, US billionaire John McEvoy and the NEC group have also been reported to be potential bidders for the Arena. U.S. Bank Trustees Limited and Compass Contract Services (UK) Limited each have registered charges against Arena Coventry Limited and Arena Coventry (2006) Limited.