Latics sponsors in financial trouble
By Dave Moore
Updated Thursday, 26th June 2008
administrators have been brought in
Athletic's sponsors Hillstone Developments Ltd. are in financial trouble and confirmed the rumours that were abounding. Administrators have been brought in and their first job was to tell shocked staff that they have lost their jobs. Directors Craig Halliwell and Tony Bhatti have not been seen at the company for a week and have had no contact with their workers. The firm recently had a £75 million annual turnover and employed 30 staff in Royton as well as more than 300 other staff.
Hillstone contracts included six floors of apartments and retail units at The Victory cinema, 58 two-bed apartments at Cardinal Court on Scholes Street; 57 apartments at The Bank (former NatWest Bank and Northern Carpets store in Mumps) and a 15-storey development at the old Gaumont Cinema building in King Street. In addition to sponsoring Athletic they also took over Chadderton Football Club last year but withdrew their financial backing within months.
Workers have been told that they have lost their jobs and would not be paid last month's wages and they responded angrily asking why the company could pay £40,000 in sponsorship to Latics last week but not pay its staff but the shirt sponsorship will remain for the season despite the company going into administration.
Alan Hardy spoke for the club and said, "We have certainly had payments for sponsorship for next season. Hillstone has been very good to us for the past two years. In no way does their situation affect the sponsorship for the forthcoming season and Hillstone's name will still be on our shirts. We know from first hand knowledge that the construction industry is tough at the moment so we wish them all the best for the future for the Hillstone name. After the forthcoming season is over, if Hillstone are in a position to talk to us to extend the sponsorship agreement we will be happy to sit down and discuss it with them or we may need to look somewhere else."
