' Bolton get 35 days extra '

Bolton Wanderers: Club avoid immediate winding-up order

BBC

18/01/16

Bolton Wanderers have avoided an immediate winding-up order after their case was adjourned until 22 February.

The Championship club are £172.9m in debt and under a transfer embargo for breaching Financial Fair Play rules.

The High Court has given the club extra time to either close a deal with a potential buyer or raise sufficient short-term funds from asset sales.

This would enable the club to trade and make payments on the debts owed to Revenue & Customs and other creditors.
The Trotters owe HMRC £2.2m.
Bolton are currently bottom of the Championship and face relegation to the third tier of English football.
Club advisor Trevor Birch said HMRC did not want an adjournment but the High Court had "rejected its wish to liquidate" Bolton.

http://m.bbc.co.uk/sport/football/35342982

Bolton Wanderers: Club avoid immediate winding-up order

The link says:

Bolton Wanderers have avoided an immediate winding-up order after their case was adjourned until 22 February.

The Championship club are £172.9m in debt and under a transfer embargo for breaching Financial Fair Play rules.
The High Court has given the club extra time to either close a deal with a potential buyer or raise sufficient short-term funds from asset sales.

This would enable the club to trade and make payments on the debts owed to Revenue & Customs and other creditors.
The Trotters owe HMRC £2.2m.

Bolton are currently bottom of the Championship and face relegation to the third tier of English football.

Club advisor Trevor Birch said HMRC did not want an adjournment but the High Court had "rejected its wish to liquidate" Bolton.

I guess the people in charge of asking for a winding up order are not football fans

I guess the people in charge of asking for a winding up order are not football fans

well, they are tax authorities who want the money that fans paid to bolton in VAT, to be passed on to them. instead of Bolton using it to pay players and staff, for instance, like all clubs that swindle money out of innocent businesses do.

i hope they feel the full force of the law

I understand that, but we went to court a few times, these people are asking for a winding up order the first time, in court, not giving Bolton any chance to make payments , they are doing their best to pay HMRC selling players etc

The funny thing is company's that are owed money get little or nothing what their owed by the club but the players keep getting 100% of their wages, that's what happened at Portsmouth & Swansea. It's a very strange arrangment that only happens in football.

Bolton Wanderers: Club avoid immediate winding-up order

The link says:

Bolton Wanderers have avoided an immediate winding-up order after their case was adjourned until 22 February.

The Championship club are £172.9m in debt and under a transfer embargo for breaching Financial Fair Play rules.
The High Court has given the club extra time to either close a deal with a potential buyer or raise sufficient short-term funds from asset sales.

This would enable the club to trade and make payments on the debts owed to Revenue & Customs and other creditors.
The Trotters owe HMRC £2.2m.

Bolton are currently bottom of the Championship and face relegation to the third tier of English football.

Club advisor Trevor Birch said HMRC did not want an adjournment but the High Court had "rejected its wish to liquidate" Bolton.

So hmrc wanted to liquidate club! Was that our fate those years ago, owing what we did to them? And not admin as been said on here by some?

Bolton Wanderers: Club avoid immediate winding-up order

The link says:

Bolton Wanderers have avoided an immediate winding-up order after their case was adjourned until 22 February.

The Championship club are £172.9m in debt and under a transfer embargo for breaching Financial Fair Play rules.
The High Court has given the club extra time to either close a deal with a potential buyer or raise sufficient short-term funds from asset sales.

This would enable the club to trade and make payments on the debts owed to Revenue & Customs and other creditors.
The Trotters owe HMRC £2.2m.

Bolton are currently bottom of the Championship and face relegation to the third tier of English football.

Club advisor Trevor Birch said HMRC did not want an adjournment but the High Court had "rejected its wish to liquidate" Bolton.

So hmrc wanted to liquidate club! Was that our fate those years ago, owing what we did to them? And not admin as been said on here by some?

This is boltons first brush in court we were in and out for months

What would happen to the promotion/relegation places in League 1 and below if Bolton were to get liquidated?

Most of the debt is owed to one person I can't see them being liquidated I can see all there players being sold tho to keep cash flow rolling in

What would happen to the promotion/relegation places in League 1 and below if Bolton were to get liquidated?

I believe all their results would be void. We would lose 3 points.

Bolton Wanderers: Club avoid immediate winding-up order

The link says:

Bolton Wanderers have avoided an immediate winding-up order after their case was adjourned until 22 February.

The Championship club are £172.9m in debt and under a transfer embargo for breaching Financial Fair Play rules.
The High Court has given the club extra time to either close a deal with a potential buyer or raise sufficient short-term funds from asset sales.

This would enable the club to trade and make payments on the debts owed to Revenue & Customs and other creditors.
The Trotters owe HMRC £2.2m.

Bolton are currently bottom of the Championship and face relegation to the third tier of English football.

Club advisor Trevor Birch said HMRC did not want an adjournment but the High Court had "rejected its wish to liquidate" Bolton.

So hmrc wanted to liquidate club! Was that our fate those years ago, owing what we did to them? And not admin as been said on here by some?

Allan, 100% they were about to wind our club up and it could easily have been the end...full stop!

It is what I wrote about at the time and it is one of the reasons I am not so vehemently against the current regime. I know someone (family) who was right in the middle of it all because of their specific job and we were literally a few short hours from going under!

Some on here keep saying they wish it had happened and we could start again, but to say that (and worse, to believe it) is to completely misunderstand where we were at that time

I am no fan of the way Tan has gone about 'changing' our beloved club, but he and TG certainly helped keep our cub alive when (again I repeat) NO ONE else was prepared to do so and one of the huge benefits of that is that we may well now attract future buyers who (thanks to our brief sojourn to the Premier League) can physically see the response they would get from the footballing public of Cardiff and the surrounding areas!

Most of the debt is owed to one person I can't see them being liquidated I can see all there players being sold tho to keep cash flow rolling in

Are they worth 2m? And for how long can they keep going once jewels sold? Nothing to do with owner writing off debt he's not writing off tax man or other debts is he wez!

What would happen to the promotion/relegation places in League 1 and below if Bolton were to get liquidated?

Its a case of shuffling the pack remebering it happening with Bradford park ave, Aldershot

Common sense sees through
let them sell their playing assests in January and see what they come up with. Also their training ground is on verge of being sold and also the macron hotel also being sold with the obvious players going out
Nobody wants to see clubs going bust