The London Lions, a professional basketball team based in Stratford, East London, and competing in the British Basketball League, have been placed into administration by a debenture holder.
Hasib Howlader and Nimish Patel from Hudson Weir, accredited by the Institute of Chartered Accountants England and Wales, have been appointed as joint administrators. They will manage the business until a suitable buyer is identified.
Hudson Weir, an Insolvency Practitioner with extensive experience in handling financial challenges for both large and small businesses, will now oversee the operations of the London Lions while preparing the club for sale in administration.
Joint administrator Hasib Howlader commented:
“This illustrious basketball team was originally founded in 1977 as the Hemel Hempstead Lakers, and following an ownership takeover by Vince Macaulay the team relocated to Milton Keynes, where they were known as Milton Keynes Lions, winning its first trophy, the British Basketball League in 2008. Relocating again to London in 2012, playing its home games at the Queen Elizabeth Olympic Park the club launched a ladies’ team into the Women’s British Basketball League in 2017.”
“With such a rich heritage and pedigree, this team has the support of the local community as its backbone and has a loyal fan base. We are now seeking a serious buyer to take the London Lions on the next part of its journey, to ensure this club continues to thrive and grow. The sale will include the assets of the business and all goodwill amassed over the last 47 years.”
“We are interested in talking to serious prospective buyers and whilst our focus is to sell the club to the best bidder, we are open to serious offers.”
For more information regarding the purchase of the business, trading as the London Lions Basketball Club, please contact:
Hasib Howlader Director E: hasib@hudsonweir.co.uk Hudson Weir, 58 Leman Street, London, E1 8EU
T: 020 7099 6086 W: www.hudsonweir.co.uk
Hudson Weir is the trading name of Hudson Weir Limited, registered in England and Wales No 09477593. Registered Office: 58 Leman Street, London, E1 8EU. Where any insolvency practitioner acts as an Administrator, the affairs, business and property of the Company are managed by the Administrator who acts as an agent of the Company and without personal liability.
