WASPS Retail bond

I have just seen Wasps are looking for an administrator- is anyone involved? I had a look at them a while back and have to say I was surprised they were able to / allowed to issue a retail bond - business rarely posted positive EBITDA (see attached financial summary)

I will post a case study in the blog section in the next month as I think it is an interesting story. The Delisting of the bonds is a bit sketchy imho - what is the benefit to the retail investor.

Anyway - if anyone has any Qs/ thoughts happy to take a look /discuss them.