Bobby Charlton Soccer Schools – the institution where a 12-year-old David Beckham won a national skills competition – is going bust, The Times has reported.

The newspaper says that in a formal meeting of creditors last week, it was decided that a liquidator should be put in place to oversee the voluntary winding up process, marking the end of its 27-year existence.

The Bobby Charlton Soccer Schools were established by the ex-England striker to ensure that children could have access to football coaching during school holidays, although in recent years, Charlton himself has not been involved with the company, although it kept his name.

The Times says that more than £734,000 was due to creditors this year – a mounting debt which could not be repaid despite the growth of the company over the past 12 months, with the launch of new coaching courses in Australia, Egypt, India and Malta.

The England captain, David Beckham, is the most famous former pupil of the schools. Beckham has spoken warmly of his experience, and it is believed to be a major factor in his decision to introduce his own soccer academies – the first of which will open in London, with a second to follow in Los Angeles.