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Administration

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Orient served with winding up order

Leyton Orient have been served with a winding up order over unpaid tax bills.  The case will be heard in the High Court on March 20th.  The money owed to HMRC is thought to be in the region of £250,000.

The last set of financial results for the club suggested that debts exceeded assets by £5.5m.  The club are in real danger of relegation to the National League which would make them less attractive to prospective buyers.

A reprieve for Millwall?

Lewisham Council has postponed a meeting scheduled for tonight which would have approved a compulsory purchase order for land around Millwall's New Den ground.    The meeting will be rescheduled, but no date has been given.

Millwall are concerned that the purchase would make the ground no longer viable for football and have said they might have to relocate to North Kent.   Some locals think that a move to the vicinity of the O2 and North Greenwich tube would be more likely.

Morecambe FC plunged into crisis

Morecambe FC has been plunged into crisis after majority shareholder Mr Diego Lemos failed to deliver on promises of investment.  Ali Abdulrahman Al Hasemi has resigned as co-chairman and director.

Mr Lemos has not been in the country since mid-November and has been difficult to contact.   The Brazilian businessman took over at the club at the beginning of September.

Spireites in trouble

Chesterfield face the threat of administration after the chairman and a number of directors resigned.  They need to find £500,000 before Christmas to cover expenses.

No one has expressed any interest in buying the club.   The town is relatively small (population 71,000) and quite close to the two clubs in Sheffield.   Many larger towns only manage to support Conference clubs, although there is a long football heritage.

Oldham Athletic face winding up petition

Oldham Athletic face a winding-up petition today brought by HM Revenue and Customs, although claim the matter has been resolved.

A statement on the clubs' website said, 'We are aware of the winding up petition brought by HMRC scheduled for Monday June 20 and our legal advisors are dealing with it,  The liability on which the petition is based was paid in full last month.'

Last December the club had difficulty in paying their players and they were paid late for three months.

Bolton Wanderers given a stay of execution

Bolton Wanderers have been given a stay of execution until 22nd February following the hearing of a winding up petition brought by HMRC in the High Court.   They are hoping either to sell assets or to conclude a deal to sell the club.

There are hopes of selling a car park next to the Macron Stadium which would tide them over until next season.   Talks with prospective purchasers are also continuing.

Bolton face administration

Bolton Wanderers face the threat of administration despite a fire sale that has included putting their entire playing staff on the market and raising £4m by selling the offices at the Macron stadium.   The club's situation remains finely balanced despite the sale of the offices and the prospect of future income from transfers.   The offices are rented to several businesses and generated £800,000 annually.

Bolton try to hold on to assets

Bolton Wanderers have resisted overtures from Preston North End to buy their training ground.   The financially troubled club is trying to hold on to all its assets while it secures an investor.  

Manager Neil Lennon is confident that the club can avoid administration.   New prospective purchasers keep appearing all the time, although it is difficult to tell how serious they are.   With the help of the Professional Footballers' Association, players' wages should be paid at the end of December.

Winding up order expected at Bolton

Bolton Wanderers expect to receive a winding up order from Her Majesty's Revenue and Customs in the next few days.   The club owes £600k in unpaid taxes.   They are thought to need £15m to get to the end of the season.

Cobblers staff turn on chairman

Northampton Town staff have taken the highly unusual step of using the club's website to criticise chairman David Cardoza.  He still owns the club and they demanded that he sell it 'within hours'.

The non-playing staff are in their fourth week without pay.   The club's bank accounts were frozen after Her Majesty's Revenue and Customs launched a winding up petition as a result of £166,000 of unpaid taxes. There is also an administration petition from Northampton Borough Council.