Fri, 28 Apr 2017 | BUSINESS NEWS
Bolton Wanderers have been issued with a winding-up petition over an unpaid £5 million loan that paved the way for a takeover of the League One side.
Finance firm BluMarble lent the money to Sports Shield BWFC, a consortium led by former Bolton striker Dean Holdsworth. Alongside Inner Circle Investments, headed by chairman Ken Anderson, it took a controlling stake in Burnden Leisure, which owns Bolton.
In March, Anderson acquired Holdsworth’s shares to become the majority owner of the club.
A winding-up petition is a legal notice put forward by a creditor who aims to have a company liquidated in order to force repayment of debt.
According to our research, there was a 28 per cent rise in the number of petitions issued in the first quarter of this year compared to the final quarter of last year.
A High Court date for Bolton Wanderers has been set for 22 May. In a statement the club said: "Bolton Wanderers Football Club has been made aware of the proposed action by BluMarble in respect of their arrangements with Sports Shield BWFC.
"This matter relates to Sports Shield BWFC and it is therefore inappropriate for either Burnden Leisure, Bolton Wanderers Football Club or Inner Circle Investments to comment and as such will not make any further statement about this issue at this present time."
Read more about winding-up petitions, including the opportunities they present for buyers of distressed businesses, in our latest subscriber-only report - How does the winding-up petition process work? Are there opportunities for entrepreneurs?
Market-leading classic car restoration business, globally recognised for its premium vehicle restoration and reimagining of iconic Mercedes-Benz classics, including pioneering electric vehicle (EV) conversions.
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
The business is a specialist Land Rover spares, repairs, and servicing garage located in Shrewsbury.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.