PKR administrators actively seeking a sale
Newly appointed RSM Restructuring Advisory offers no comment on whether players will be paid back
PKR’s newly appointed administrators insist a sale of the full business is their number one priority.
David Taylor and Matthew Meadley Wild of RSM Restructuring Advisory were yesterday appointed administrators of PKR by the High Court, after the 3D poker site filed for administration late last week.
Taylor, one of the joint administrators, said in a statement: “In the first instance, the administrators will be actively seeking a buyer for the business and assets as a whole.
“Alternatively we will seek a buyer for the player database and other assets.
“In accordance with their statutory duties to creditors, the Joint Administrators will seek to maximise realisations for the benefit of all creditors.
“This process may take some time and we will endeavour to keep account holders updated on progress via the pkr.com website.”
The new administrators did not specify whether player funds would be returned to them, only asking PKR account holders to email them at pkr.restructuring@rsmuk.com.
A source with knowledge of the situation confirmed PKR “definitely has enough cash to pay back players” but said it will up to the administrators to decide how assets are allocated, with creditors also needing to be paid.
PKR filed for administration last Thursday after experiencing “recent financial difficulties”.