Premiership Rugby: Wasps enter administration and are suspended from competitions in England

Wasps Holdings Limited, which manages the men's (Gallagher Premiership Rugby) and women's (Allianz Premiership 15s) teams and the academy of Wasps Rugby Club (Coventry, ENG) "was placed into administration on 17/10/2022 and immediately ceased to trade," announced the club on 17/10/2022.

As a result of its insolvency, the company is being placed under the protection of the UK courts and under the control of a specialist company. "The affairs, business and property of the company are being managed by Andrew Sheridan and Rajnesh Mittal of FRP (a corporate restructuring and finance company) who were appointed joint administrators. The joint administrators act as agents of the company and without personal liability," explained Wasps Holdings Limited.

"Regrettably, upon appointment the joint administrators were required to make 167 employees redundant, including all members of the playing squads and coaching staff. A small number of employees have been retained to support with the orderly wind down of the company," said Premiership Rugby. The Wasps have won 6 English league titles and 2…