Bolton Wanderers settle unpaid tax bill with HMRC
Thursday 17 March 2016 21:31, UK
Bolton Wanderers have confirmed an unpaid tax bill with HMRC, worth around £2.2m, has now been settled.
On Thursday, the Sky Bet Championship club released a statement confirming that they expect the winding-up petition against them to be lifted in the High Court on Monday after finally completing the payment.
Bolton, who were formed 142 years ago, were served with the winding-up petition in November and needed three adjournments from a High Court judge to stave off liquidation.
"Bolton Wanderers can announce that the club has today, Thursday 17 March, settled all overdue payments with HMRC," a club statement read.
"As a result Bolton Wanderers now expects the winding up petition against the club to be lifted in the High Court on Monday.
"The club would like to thank all supporters and staff for their continued backing and effort during what has been a challenging period."
The Sports Shield consortium, which is fronted by former Bolton forward Dean Holdsworth, completed its £7.5m takeover of the club last Thursday and assumed control Eddie Davies' 94.5 per cent controlling share.
Holdsworth's consortium bought the club for £1 but handed over £7.5m as working capital until the end of the season, while another £10m has been provided as proof of future funds.
Davies is also understood to have written off £170m owed to him by the football club.
Bolton, who parted company with manager Neil Lennon on Tuesday, are currently rooted to the bottom of the Sky Bet Championship, 11 points from safety with only nine matches of the season remaining.
