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Valke Rugby Company succumbs to Covid-19

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    Posted: 12-Aug-2020 at 12:31pm
https://boksburgadvertiser.co.za/392702/valke-rugby-faces-liquidation/

The Valke Rugby Company is being liquidated.

The branch of the company which manages club rugby in Gauteng and affects Boksburg amateur club sides Makopano Boksburg Rugby Club and East Rand United has, however, not been affected.

Following the recent announcement that club rugby has been cancelled for the year, the liquidation from the Valke Rugby (Pty) Ltd side is the latest scare for local rugby which finds itself in a dark place.

The company, which admitted to be struggling financially, was unable to pay its employees at the end of July and will wind up its affairs.

“It is therefore with regret and great sadness that we have to announce that the professional arm of the Valke, the Valke Rugby (Pty) Ltd, is in financial distress and the directors of the company resolved that the company be wound up as it is unable to pay creditors and employees,” a statement from the company read.

“This decision was not taken lightly and the board of directors exhausted all avenues at their disposal to save the company from bankruptcy before concluding that the company be wound up.”

The novel coronavirus has claimed another victim, after the Global Rapid Rugby competition played in Malaysia was cancelled due to the ban on travelling and the revenue stream from licence agreement was stopped.

“The Valke played in the competition and the owners of Global Rapid Rugby injected money into the company to pay salaries of players. Salaries of employees have not been paid at the end of July and we as part of the Valke family deeply regret the hardships this decision has caused to all involved.

“It has, however, become unavoidable. Our hearts go out to all players, employees and families of those affected during this time.”

The Valke Company relayed the decision to liquidate the company to all organisations representing the employees and players of the Valke Company.

“We as the Valke Union will do our utmost to support and assist every member of the Valke family and will cooperate with all organisations involved on behalf of their members.

“The Valke Rugby Union is not experiencing financial problems and all financial commitments to employees of the Valke Union and its creditors are being honoured.”
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Transvaal Quote  Post ReplyReply Direct Link To This Post Posted: 12-Aug-2020 at 1:11pm
Nog 'n berig hieroor:

https://www.sportindustry.co.za/news/news-valke-rugby-be-liquidated

NEWS: VALKE RUGBY TO BE LIQUIDATED

04 Aug 2020

The Valke rugby union on Gauteng’s East Rand has announced that it will be liquidated.

Valke Rugby (Pty) Ltd said it was in “financial distress” and would not be able to pay its employees for July, or in future. The amateur arm of the Valke Rugby Union - which looks after club rugby in the East Rand - is not affected.

“It is with regret and great sadness that we have to announce that the professional arm of the Valke is in financial distress and the directors of the company resolved that the company be wound up, as it is unable to pay creditors and employees,” a statement from the company said. “The coronavirus has claimed another victim, after the Global Rapid Rugby competition played in Malaysia was cancelled due to the ban on travelling and the revenue stream from the license agreement was stopped. The Valke played in the competition and the owners of Global Rapid Rugby injected money into the company to pay the salaries of the players.”

Six of South Africa’s professional rugby unions, namely the Valke, Border, Boland, South Western Districts, Eastern Province and the Griffons, were recently “excluded” from participation in a new-look Currie Cup type competition, which is set to get off the ground next month.

The Bulls, Lions, Sharks, Stormers, Cheetahs and Kings have been earmarked to play in an eight-team Currie Cup, with a final set for December, depending on SA Rugby getting the green light from the government to stage the competition.

SA Rugby CEO Jurie Roux recently said the smaller unions, like the Valke, had decided against playing in any competition for the rest of the year, because it would be too costly for those so-called First-Division teams. 

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