London Welsh are to fold but hope to reform in the new year.
Chairman Gareth Hawkins admitted the 131-year-old club’s current business model is “totally unsustainable” and said they had no alternative but to seek voluntary liquidation.
The intention is for London Welsh to reform in 2017 as a semi-professional outfit and raise £300,000 to regain their place in the Greene King IPA Championship.
Hawkins said on the club website: “London Welsh has reached a difficult point in its illustrious history. Due to a playing budget of £1.7million and gates at games numbering as low (as) 400, the club’s current business model is totally unsustainable.
“The debts accrued from trading in this way have left the club with …
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