Northampton Town FC issued with winding up petition

Written by companyrescuelondonadmin 3 April 2017

Yesterday, the football club failed to reach its deadline of repaying a £10.25 million to the local council. According to BBC reports, the club also owes HMRC thousands of pounds which has led to a winding up petition against the football club.  

Chairman, David Cardoza, has stated he’s expecting the situation ‘to be resolved by the end of the week’ stressing there will likely be a takeover and acquisition soon.

Cardoza commented, “We are very close to reaching an agreement on the sale of the club to one of a number of interested parties and we believe we will have some definite news very soon. The potential purchasers are well aware of all the issues, including the HMRC discussions.”

An unknown Indian Consortium previously pulled out of a sale at the last minute due to unforeseen complications, putting increased pressure on the club to find another interested buyer. 

The petition will be heard at the Royal Courts of Justice on the 16th November. We’ll have to wait and see over the next few days on the club’s progress.

Update 16th November: the winding up petition has been adjourned for two weeks and will be heard again on the 30th November. This will hopefully allow more time to secure a deal. Updates to follow…