Jobs safeguarded

Troubled Goals acquired by rival and private equity firm

Firm has pitches in UK and US

Troubled five-a-side- football pitch operator Goals Soccer Centres has been acquired in a pre-pack administration safeguarding the jobs of 750 staff.

Northwind 5s, a new company backed by Inflexion Private Equity and Soccerworld has bought the business after Deloitte was appointed to sell it.

The board and management of Goals have been attempting to resolve a misdeclaration of VAT and other serious accounting issues, dating back several years.

In a statement the company said: “Every avenue has been fully explored to deliver the best possible outcome for all stakeholders in the business.

“However, ultimately the only available solution, given the indebtedness of the company, the unresolved VAT situation and inappropriate accounting, was to accept that the company needed to delist and for the company to undertake an accelerated M&A process to seek a buyer for the business and its assets.

The board believes mis-declaration amounted to £13.2 million, plus interest and any penalties HMRC deem appropriate.

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