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Bolton Wanderers Facing Another HMRC Winding Up Petition

Written by: Keith Tully

Published: 19th July 2017

Bolton Wanderers Facing Another HMRC Winding Up PetitionBolton Wanderers has been issued with a winding up petition from HMRC that marks the latest flashpoint in an apparently ongoing saga of serious financial difficulty at the football club.

The club was issued with its latest winding up petition by the Inland Revenue on or around July 12th, according to the Bolton News, which has been scrutinising HMRC’s official Courts and Tribunals listings.

Bolton Wanderers is reportedly aware of the petition and representatives of the Greater Manchester club have suggested that they intend to deal with the issues to which it relates in the coming days.

HMRC hit the club with two winding up petitions in May of this year but the pertinent issues in those cases were dealt with before scheduled court hearings on the details took place.

Despite its football team having won promotion from League One to the Championship in late April, a variety of problems persist off the field for Bolton Wanderers as a business operation.

It was reported in April of this year that a winding up order was being pursued by one of the club’s main creditors in relation to a £5 million loan and the club is understood to have been perilously close to entering administration at various points during 2016.

In recent days, it was revealed that the club’s finance director Shaun McHugh was to leave his post after having been appointed as recently as March 29th.

Numerous other winding up petitions have been issued by HMRC over the course of the past few years against Bolton Wanderers, whose ownership changed in early 2016 at a time when the club was reportedly saddled with tens of millions of pounds worth of debt.

The deal that saw new owners come into the club in March 2016 was led by its former player Dean Holdsworth, who headed up a consortium called Sports Shield BWFC, and by Ken Anderson from a business called Inner Circle Investments Ltd.

Mr Holdsworth sold his shares to Mr Anderson, now chairman of the club, in March 2017 after the two men engaged in a public falling out over a variety of financial and footballing matters.

Keith Tully

Keith Tully

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Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

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