Wasps enter administration as 167 rugby club employees made redundant

Wasps have been placed into administration and immediately ceased trading, forcing their 167 employees in redundancy.

Wasps, one of only four ever-present teams in the Premiership, were last week suspended from the league, only a week after Worcester Warriors were wound up.

Former Premiership and European champions Wasps had been due to repay £35m in May from a bond scheme used to help finance their relocation from London to Coventry and purchase a lease on their stadium.

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