Bolton Accounts Unfrozen as Club Conclude Car Park Sale....

[campo21]

Bolton Wanderers have been granted a validation order by the High Court, allowing them to continue trading by selling car parking land at Macron Stadium.

Following Wednesday's news that staff wages were set to remain unpaid for the month of January, the sale, which will be to the owners of Middlebrook Retail Park, will allow them to fund the salaries of employees whilst also raising funds that should see the club through until the end of the season.

Alan Nixon, a journalist for The Sun newspaper, reported earlier on Friday that Bolton would have to pay a fee in the region of £6.5million to buy back a section of land, before selling the entire car park to the Emerson Group for £20million.

With outstanding VAT and PAYE tax bills set to rise from £2.2million to upwards of £3million and around £2million in unpaid wages still to clear, Wanderers could emerge from the sale with £8.5million to put towards debt owed to Barclays Bank PLC and loans granted by club directors.

A statem

[campo21]

Keep going Eddie just the hotel,Euxton training ground the club shop,offices and stadium to sell now!

[DefconOne]

As I understand it Campo, the hotel has already been sold again,and all the offices have definitley been sold.

Interesting that other directors have now lent the club money - that never materiaiized before - very convenient that!

so £20 million - bloody knockdown price because they know we're on our uppers!

Barclays are owed about £15 million I believe, Davies wants £3million in severance pay just to top up the £200 million he's (allegedly) already done us for, wages £2 million, unpaid taxes £3million other directors £???

Being that apart for Euxton all the rest fo the assets have already been bled off years ago into Eds' pocket, then I'm afraid HMRC are still likely to view us as 'very clealry insolvent' in their own words, and wind us up anyway on Feb 22nd. Especially in view of the fact that we are now also under a transfer embargo until the end of the season for breaking the fair play rules!

and nobody gives a toss - Spoke to the Supporters Trust - not intereste

[thestiffler]

When we got relegated from the prem at your place I remember Phil Gartside saying we got what we deserved for overspending, funny how things turn out