Bolton Wanderers are facing the prospect of administration if HMRC issues a winding up petition against the club. The English Championship side have been searching for a new owner in order to alleviate financial pressures. So far little progress has been made.
HMRC Could Issue Winding up Petition
A winding up petition could be issued by HMRC after it emerged that The Trotters owe £300,000 to HMRC. Talks have taken place between Trevor Birch, the insolvency expert employed by the Bolton owner, Eddie Davies, and three interested parties. Despite this no progress has been made in establishing a preferred bidder.
Trevor Birch reportedly had this to say:
“The club’s position is increasingly perilous and new investment is needed quickly. We are continuing to negotiate with interested parties but unfortunately no one party has demonstrated all the requisite elements needed to conclude a deal.”
Winding-up Petition Solicitors
If you have received a winding up petition our legal experts are able to provide legal advice and representation. Our team of solicitors and barristers can obtain a court adjournment; CVA’s or successfully challenge the validity of the winding up petition to ensure that the petition is dismissed, often without public advertisement.