Date: 27th November 2008 at 8:38pm
Written by:

The man who reportedly bought York City for £1,John Batchelor, has been rumoured to be interested in buying Chester City according to local press reports.

Batchelor, who has been involved in football with York City and Mansfield Town, has openly confessed in national press interviews to being an asset-stripper.

Speaking in the Guardian, Batchelor explained: ‘I do asset-strip. I have realised if you follow the right procedures you can borrow against a company’s assets to take it over.

‘I target companies in financial distress. We try to fix them – some of my companies have gone on to do very well and I have sold them.

‘Where I can’t, I can arrange a ‘pre-pack’, agreeing beforehand what I will pay for assets, then put the company into insolvency. The suppliers and creditors fall away and I am left with a clean company.’