A SECOND Gallagher Premiership rugby club has fallen into administration today just weeks after Worcester Warriors.

Wasps Holdings Limited, which is the holding company for Wasps men’s and women’s rugby teams, and Wasps netball, has ceased trading with immediate effect.

The administrators FRP said that 167 employees have been made redundant, including all members of the playing squads and coaching staff.

Wasps follow Worcester Warriors, with the league now operating as an 11-team competition.

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Wasps had already been suspended from the Premiership, following Worcester in seeing their season put on hold.

Wasps were hit by a winding-up order from HM Revenue and Customs for £2million in unpaid tax, and they also faced having to repay a £35m bond which had helped finance the club’s relocation to Coventry during 2014.

Wasps have been present in the Premiership since the competition began 25 years ago, winning it in 2003, 2004, 2005 and 2008.

They were also crowned European champions twice, in addition to achieving one European Challenge Cup triumph, and have fielded some of England’s most well-known players during rugby union’s professional era.

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The 2003 World Cup-winning England squad featured five Wasps players – Lawrence Dallaglio, Josh Lewsey, Stuart Abbott, Simon Shaw and Joe Worsley.

Former Wasps fly-half Andy Goode tweeted: “Exceptionally sad day for @WaspsRugby as they go into administration. A club I loved my time with on and off the field. Thoughts with every player, member of staff and fan at the minute. Hopefully, the club finds new investment and can bounce back asap.”

Warriors were put into administration on Monday (September 26) causing them to be suspended from all competitions.

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RFU bosses wanted evidence of a “credible plan to take the club forward,” but said they had received no response.

Worcester’s debts total more than £25million, including at least £6m in unpaid tax.

Administrators have said that Sixways Stadium could see rugby return by "next season".