Bolton Wanderers given one-month reprieve to raise funds or find buyer

Bolton Wanderers have managed to avoid an immediate winding-up order after their case at the High Court was adjourned until next month.

The Trotters, which owe HMRC £2.2m and are £172.9m in debt, have been granted extra time to either raise a sufficient sum through the sale of assets or attract a buyer, according to the BBC.

Trevor Birch, Bolton’s advisor, said HMRC did not want the case adjourned but the High Court had turned down its wish to liquidate the Champion club.

The proceedings are set to continue after February 22.

Earlier this month, Bolton fans united to form a supporters’ trust in response to the club’s continuing financial woes.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →