Rangers is a professional football club in Scotland founded in 1872. The club entered financial difficulties during the late 2000s, and the club (trading as The Rangers Football Club plc) entered administration in February 2012. It owed substantial amounts to HM Revenue and Customs (HMRC), who subsequently refused to allow Rangers to exit administration via a company voluntary arrangement (CVA). The Rangers Football Club plc entered liquidation on 31 October 2012.
The refusal of the CVA forced the administrators to sell the business and assets of Rangers to a new company named Sevco Scotland Ltd, operated by Charles Green. The other member clubs of the Scottish Premier League refused to allow the new company to adopt the league membership of the old company. Green then successfully applied for membership of the Scottish Football League. After obtaining the old company's Scottish Football Association (SFA) membership, the company Sevco was then renamed The Rangers Football Club Ltd and Rangers re-entered the Third Division (the fourth tier of the Scottish football league system) in time for the 2012–13 season. Rangers gained promotion back to the first tier of the Scottish leagues in 2016, and in 2021 won their first Scottish league title since the insolvency (55th in total).