The company which runs Falkirk Football Club's stadium, Falkirk Community Stadium Limited (FCSL), has denied that it has gone into liquidation.

A report in the Falkirk Herald recently suggested that FCSL, a joint venture involving the football club and Falkirk Council, had run into financial difficulties. FCSL chief executive, Peter Eadie, said: "This erroneous report has caused undue concern to many people. We have not gone into liquidation and the company is solvent. We continue to have discussions with our shareholders as to the correct route that will see the stadium completed.

It follows a decision by the council in response to a strategic review of the stadium project on 22 September, which will see FCSL restructured into three new companies. FCSL assets will be transferred to both the council and the football club as part of the project. The new structure will see the council taking responsibility for commercial activities and developing the 42-acre (17-hectare) site excluding the stands. The football club will be responsible for football-related matters, including the pitch, floodlights and the development of the stadium's south and east stands.

Henry Boot Developments, which was appointed by FCSL earlier this year to develop the stadium site, will continue with proposals to build a hotel and a restaurant, as well as four corner pods, and will now deal with the council directly.