BOLTON Wanderers are reportedly set to be issued with a winding-up petition from Revenue and Customs in the coming days.

The Championship strugglers, who currently sit bottom of the league, owe approximately £600,000 in unpaid taxes and failed to pay their senior players in November.

The North West club need to find £15m just to get to the end of the season, after announcing a debt of £172.9m back in April.

With takeover talks being held with four parties the club will need to reach an agreement on a deal soon, otherwise they could face administration. That would also come with a 12-point deduction, which would see Wanderers fall 14-points adrift of safety and seriously dent their survival hopes.

If a buyer is not found Bolton’s financial advisor Trevor Birch would be handed the tricky task of looking for an alternative option, however that would increase their chances of going into administration.

The club’s owner Eddie Davies has agreed to write off their debts of £172.9m which he loaned to Bolton, in hope of pushing through a deal to buy the club although he is refusing to put in any further funds.

Neil Lennon’s men face a tricky trip to Eastleigh in the New Year after they were drawn against the non-league outfit in yesterday’s FA Cup third round draw.

By: Sean Hayes
@SHayesNBL

Leave a Comment

Your email address will not be published. Required fields are marked *