Thursday 28 February 2019 16:02, UK
Notts County owner Alan Hardy has seen his interior design company, Paragon Interiors Group PLC, go into administration, Sky Sports News can exclusively reveal.
The company ran out of cash and has been unable to pay its employees. On Wednesday it called in Leonard Curtis Recovery to act as administrators.
The news - predicted by Sky Sports News on Monday - will come as a real blow to the world's oldest football league club.
Hardy bought and helped fund Notts County with the aid of a loan from Paragon worth just under £7m.
Sky Sports News understands the administrators could call in that debt, putting the club itself at risk of going into administration, automatically triggering a points penalty from the EFL.
County are currently bottom of the Football League, facing relegation from the professional leagues for the first time in their history.
Hardy issued a statement on Monday evening where he tried to reassure supporters that the club isn't at risk.
