Goals hires Deloitte to mull options amid VAT probe

Troubled East Kilbride-based Goals Soccer Centres plc said on Tuesday it is in the process of engaging Deloitte LLP “to work alongside its current advisors and its lenders in assessing its future corporate options.”

Two of Goals’ biggest shareholders are Mike Ashley’s Sports Direct International plc and Harwood Capital, both with just under 19% of the firm’s equity.

The firm also said it appointed a new interim chief financial officer.

Goals said: “The scope of the engagement is to consider and plan for certain future scenarios that the board may consider actioning either after, or alongside, its discussions with HMRC regarding the potential misdeclaration of VAT.”

On May 28, Goals said it appointed forensic accountants alongside its auditors “to investigate and report on historic accounting policies and practices used by the company in the recognition of revenue and the preparation of financial statements.”

In March, Goals shares were suspended at the request of the company following a trading update in which Goals said there had been “a substantial misdeclaration of VAT, going back over several years …”

On Tuesday, Goals added: “The company can also confirm it has appointed Mike McGill as interim chief financial officer.

“Mr McGill has worked with companies including Baxters Food Group, McDonald Hotels and the Murray Group.

“Mr McGill replaces Martin Johnson who previously held the role on an interim basis and leaves the company on 31 July.

“Mr McGill is not a director of the company.”