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Winding up petition against Bolton


A winding up petition has been issued against Bolton Wanderers over an unpaid £5m loan.   The loan, from a finance company, was used to fund the takeover of the club.   The case will be heard on May 22nd.

It is understood that BluMarble lent Sports Shield - fronted by former Wanderers striker Dean Holdsworth - the money to complete a takeover with chairman Ken Anderson's Inner Circle Investments last year.

But last month, Mr Anderson bought ex-Whites striker Holdsworth's shares.  In doing so, Mr Anderson become the majority owner of the club.

Promotion to the Championship will boost the club's income by about £6m and help attract the investment Anderson is thought to be keen on.   The club are believed to be still in debt to the tune of £25m, with £15m due to Eddie Davies as part of the terms of the takeover.

Davies wrote off £170m of £200m in debts when he sold up, but the club were still losing £800,000 a month at that stage.