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Bury takeover bid falls through - HMRC winding-up petition will not now be challenged

A disconsolate Bury fan awaits news of Bury's fate outside the gates of Gigg Lane
Image: Bury have received the backing of the FA in their bid to join the National League system

Supporters' group Forever Bury have announced they will not continue with their legal fight to stop the HMRC winding-up petition against the club after a prospective buyer ended their interest.

The club's 125-year Football League membership was withdrawn at the end of August after they failed to produce evidence of how they would fulfil their financial commitments for the rest of the season.

An initial takeover bid collapsed and the latest attempt to help secure the club's future has also fallen through following due diligence on the part of the interested party.

"We regret to inform the supporters of Bury Football Club that the interested party who has been working with Forever Bury on a proposed bid to buy the club has confirmed this is no longer a viable prospect for them," read the statement.

"As matters have unfolded and the necessary due diligence has been undertaken, the complex, complicated and financially distressed situation at Bury Football Club has resulted in their decision to stand back from further discussions.

"Resulting from this news, Forever Bury will not now be putting forward a legal defence against the HMRC winding-up petition on Wednesday 16th October 2019, as we believe there is no longer adequate evidence to suggest a meaningful case could be made.

"We will update you further as developments unfold."

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Bury North MP James Frith, who chairs the Bury FC Rescue Board, confirmed they remain committed to applying to join the National League system.

"We await our fate on Wednesday as to whether Bury FC is liquidated," he tweeted.

"If we are we will rise again with the assistance of the FA, who have confirmed their support already for our application to the National League system, come what may."

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