What have they spent all that money on? It’s not like they have pumped money into improving their ground or into a high quality squad. I suppose at £3.4m per year ish that’s presumably something like 6-8 years to get to the total debt figure of £24m.
The only way to sustain that amount of debt is for the board to keep pumping in the money for additional shares, but I suspect they may only be paying the interest on the debt. We keep hearing about clubs teetering on the brink, maybe the Gas will be one of the next to fall. I don't wish it on their fans, but their home gates are smaller than Argyle's so I can't see how they can continue running up the debts.