THE COMPANY that took over Worcester Warriors has fallen into administration with a new group taking over.
Atlas Worcester Warriors became owners of the club in May 2023 after the club went into administration in 2022 with the club not playing a game since.
Atlas then failed to make payments resulting in Loxwood Holdings, owners of Wasps RFC, taking control of 97 per cent of the company.
Chris Holland, director of Loxwood Holdings confirmed on April 25, that Atlas had entered into an insolvency process and it had gone through a pre-packaged administration process.
A statement from Sixways Stadium said: "In May 2023 a group company that owns Wasps RFC stepped in to financially assist Atlas Worcester Warriors ("Atlas") in completing the purchase of the former Worcester Warriors Rugby club from its administrators.
"That financial assistance was only intended to be a short-term position to help and assist in the eventual recovery of Worcester Warriors and to allow Wasps a short-term option to play at Sixways Stadium in Worcester, as part of their committed and determined relocation to an eventual new stadium in Kent.
"Unfortunately despite Loxwood's financial assistance, which included providing funding to meet the operatinal costs of the Stadium, Atlas was unable to meet its ongoing financial obligations and, as a result, Atlas has entered into an insolvency process.
"Given that the ultimate and stated aim of Loxwood has always been to protect and recover elite-level rugby in a sustainable way, we embarked on a strategy which involves forming a newly incorporated group of companies who have acquired the business and assets of Atlas.
"Facing this position, Loxwood were left with a difficult choice. Either seek the liquidation of Atlas which could have resulted in the closure of the Stadium or seek another solution, through a pre-packaged administration process.
"This would ensure the continued trading operation of the stadium, with funding being provided to energise the commercial operation and at the same time support active steps to preseverve and return elite level rugby, as Worcester Warriors."
The statement went on to say it chose the latter and has embarked on a strategy which includes forming a newly incorporated group of companies to acquire the business which have been funded by Loxwood with support from the local business community. Several have become shareholders in the group.
The group will continue to employ all existing staff and actively expand the operations at the Stadium.
There will be no disruption to events held at Sixways.
The statement continued: "Elite level rugby is important to Worcester, and we have had proactive dialogue with the RFU and the Championship, including giving formal notice of the intent to return Worcester Warriors to the second tier of English Rugby."
It added that it was also exploring other opportunities to play competitive professional rugby at an elite level including the possibility of a reformed women's team.
Marcus Mulcahy, chairman of The Worcester Warriors Supporters Trust, said: "I am a bit shocked with the timing but not surprised at all.
"This is really positive news as we can hopefully move on.
"Hopefully the club can restart in tier two in the 2025/26 season."
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