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Bolton Wanderers have 2 weeks to save themselves from administration

21 March 2019

Bolton Wanderers receive winding up petition

It really is time that Bolton Wanderers sorted out their taxes!!! 

Today they stood in court, to try and fend off another winding up petition from HMRC...the result? Two weeks to pay the unpaid bill, or else they suffer serious threat of liquidation. 

They have until the 3rd April, to pay their £1.2million debt, which if not paid, will leave them with a 12-point deduction. It is believed they escaped the deduction as of yet, because they have a potential buyer already lined up. The potential buyer is said to already own a majority stake in the club.

If a buyer is not found, the 12 point deduction would be carried on until next season, as they would just miss the cut off point for this season, being March 28th 2019 - under EFL rules (See our page on winding up petitions and football clubs for further details)

This is not the first time the championship league club have struggled financially. In February, they were two weeks late to pay their players' and coaching staffs' wages (thought to be £600,000 prior tax).  Additionally, Forest Green Rovers (a League Two Club) have pressed legal charges on the club after Striker, Christian Doidge's proposed move to the Championship side collapsed in January. Football Agency group, Stellar Group are chasing Bolton for unpaid agent and advisory fees they are owed. 

Bolton's owner-chairman, Ken Anderson, is in a race against time to secure a deal and save the club!

Category: Winding up petition

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