' Championship Club now set for Winding-up Order '

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015

Football League

by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015


Football League


by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Annis

Whoever this Ashley Williams is couldn't even copy the BBC Sport report properly.

What the BBC referred to is the possibility ( and it is no more than that-it hasn't happened yet) of HMRC issuing a winding up petition. This is just a notice that at a specified later date, the Court will hear an application for an order to be made to put the club into liquidation. A petition and an order are two totally different things and matters are usually sorted between the petition date and the court hearing so the order is never made.

Negotiations are at an advanced stage to bring in a new owner and should be completed before any petition is served on the club. A new owner can buy the club for very little money as the current owner is writing off all his debt to help the deal and other debts are not great. What any new owner has to prove is that they have the money to clear those debts plus have money to fund the club in the future while current losses of about £10m a year are reduced

Keith

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015


Football League


by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Annis

Whoever this Ashley Williams is couldn't even copy the BBC Sport report properly.

What the BBC referred to is the possibility ( and it is no more than that-it hasn't happened yet) of HMRC issuing a winding up petition. This is just a notice that at a specified later date, the Court will hear an application for an order to be made to put the club into liquidation. A petition and an order are two totally different things and matters are usually sorted between the petition date and the court hearing so the order is never made.

Negotiations are at an advanced stage to bring in a new owner and should be completed before any petition is served on the club. A new owner can buy the club for very little money as the current owner is writing off all his debt to help the deal and other debts are not great. What any new owner has to prove is that they have the money to clear those debts plus have money to fund the club in the future while current losses of about £10m a year are reduced

Keith

Keith

Link http://footballleagueworld.co.uk/strugg ... -up-order/

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015


Football League


by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Annis

Whoever this Ashley Williams is couldn't even copy the BBC Sport report properly.

What the BBC referred to is the possibility ( and it is no more than that-it hasn't happened yet) of HMRC issuing a winding up petition. This is just a notice that at a specified later date, the Court will hear an application for an order to be made to put the club into liquidation. A petition and an order are two totally different things and matters are usually sorted between the petition date and the court hearing so the order is never made.

Negotiations are at an advanced stage to bring in a new owner and should be completed before any petition is served on the club. A new owner can buy the club for very little money as the current owner is writing off all his debt to help the deal and other debts are not great. What any new owner has to prove is that they have the money to clear those debts plus have money to fund the club in the future while current losses of about £10m a year are reduced

Keith

Keith,

Do you think we should have gone into administration?

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015


Football League


by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Annis

Whoever this Ashley Williams is couldn't even copy the BBC Sport report properly.

What the BBC referred to is the possibility ( and it is no more than that-it hasn't happened yet) of HMRC issuing a winding up petition. This is just a notice that at a specified later date, the Court will hear an application for an order to be made to put the club into liquidation. A petition and an order are two totally different things and matters are usually sorted between the petition date and the court hearing so the order is never made.

Negotiations are at an advanced stage to bring in a new owner and should be completed before any petition is served on the club. A new owner can buy the club for very little money as the current owner is writing off all his debt to help the deal and other debts are not great. What any new owner has to prove is that they have the money to clear those debts plus have money to fund the club in the future while current losses of about £10m a year are reduced

Keith

Keith

Link http://footballleagueworld.co.uk/strugg ... -up-order/

Thanks for the link Annis. This guy has got his wires crossed not knowing the difference between a winding up petition and a winding up order. Worse was his lazy journalism in doing a blatant copy of a BBC Sport article and not even copying it properly.

Struggles at Bolton Wanderers continue with club set for winding-up order


Tuesday 8th December 2015


Football League


by: Ashley Williams


Football News 24/7


Rock bottom Sky Bet Championship side Bolton Wanderers are expected to be issued with a winding-up order from Revenue and Customs, according to BBC Sport.


The Whites are in a serious financial struggle as they owe £600,000 in unpaid taxes and need to find £900,000 in monthly running costs of the club.

Current owner, Eddie Davies has put the club up for sale for just £15 million, with four parties interested in submitting a bid for the club.


If a takeover is not completed in the next week, then the club will plunge into administration and they could face a 12 point deduction, which would put them on 0 points this season, 16 points adrift of safety.

There is serious question of Bolton’s future and they will need to sort out their situation quickly, if they are to remain a Championship side.

The club failed to pay their players through the whole of November and are currently under takeover talks.

Meanwhile, on the pitch, Neil Lennon’s side are in dire straits too, and sit rock bottom of the Sky Bet Championship table, having only won one game all season.

The Trotters have amassed a mere 12 points from 19 league games this season, and they are in need of some serious rejuvenation both on and off the pitch to help them stay in the second tier of English football.

Annis

Whoever this Ashley Williams is couldn't even copy the BBC Sport report properly.

What the BBC referred to is the possibility ( and it is no more than that-it hasn't happened yet) of HMRC issuing a winding up petition. This is just a notice that at a specified later date, the Court will hear an application for an order to be made to put the club into liquidation. A petition and an order are two totally different things and matters are usually sorted between the petition date and the court hearing so the order is never made.

Negotiations are at an advanced stage to bring in a new owner and should be completed before any petition is served on the club. A new owner can buy the club for very little money as the current owner is writing off all his debt to help the deal and other debts are not great. What any new owner has to prove is that they have the money to clear those debts plus have money to fund the club in the future while current losses of about £10m a year are reduced

Keith

Keith,

Do you think we should have gone into administration?

Depends on when. If we had done so before VTs involvement there might not have been a buyer around to fund the losses that were incurred in the following seasons although I believe those losses could have been far less under better and more prudent director control.

Now Admnistration would be potentially good for the club but a financial disaster for VT as the new owner could buy the club pretty cheaply (leaving more for future investment)but VT would have no control over who bought it and might well recover only a small proportion of the debt due him that has been run up over the last 4years