West Hams main sponsors Alpari have gone bust following the Swiss franc situation.
It what simply echoes memories of the Icelandic bank crisis which forced the clubs sponsors in 2007 XL out of business, Alpari have now ceased trading and an announcement by West Ham is expected within the coming hours.
A statement by Alpari read : The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.