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Wanderers have been given the go ahead to carry on trading until mid January by a High Court registrar.
The club’s financial advisor Trevor Birch said a consent order issued in London by the High Court today will allow them to stay in business providing they can "realise" cash by selling either the club or some of its assets.
Wanderers are due to answer a winding up petition in court on January 18, but this latest order gives them some breathing space.
The club also revealed today that league rivals Preston North End have expressed an interest in buying the club’s training complex at Euxton.
Trevor Birch said: “The court has given us consent to carry on trading up to the winding up petition date of January 18, providing we can realise some cash by either the sale of the club or assets.”
Ahead of tomorrow's home Championship clash against Fulham, first-team manager Neil Lennon gave an update on a potential takeover of the club from owner Eddie Davies.
And while talks remain ongoing, Lennon said Mr Birch was increasingly confident the threat of administration could be staved off.
That is good news for everyone at the club after fears in recent weeks that scenario may be unavoidable with a winding-up petition issued by HMRC and playing staff unpaid last month.
The remainder of the club's staff are set to receive their salary for December next week, while Lennon revealled the Professional Footballers’ Association are helping meet wages for the players this month.
Lennon told The Bolton News: “Trevor is confident there will be no administration which is obviously good news.
“Hopefully the new year will bring a change of luck.
“I think it’s a positive that we may avoid administration.
“I wouldn’t say it is 100 per cent clear but it’s looking more and more likely now that we will avoid that.
“As for the takeover, it’s as you were.
“I know Trevor is trying to negotiate selling off some parts of the stadium and that’s hopefully going to get some of the wages through for December anyway, or part of them.
“If it’s for the players then the PFA are hoping to step in and pay the rest.
“The staff will get paid and the players will as well, hopefully.
“That will then take us through to January.
“It will give us a bit of time then to get the deal done fully.”
It is understood the sale of the Whites hotel at the Macron Stadium as well as office space have both been looked into.
But news of the training ground being up for sale is fresh.
Preston chairman Peter Ridsdale was at Euxton last month and Lennon said North End officials have revisited the site this past week.
If the base is sold, it would mean Lennon and his first-team squad upping roots – possibly to the Eddie Davies Academy site at Lostock.
However, the boss understands there is no deal in place yet.
Lennon said: “I know Peter Ridsdale was down at the training ground looking at the site at Euxton a few weeks ago.
“I also know Preston were here again this week but I haven’t heard any more on that from Trevor.”
Source
The club’s financial advisor Trevor Birch said a consent order issued in London by the High Court today will allow them to stay in business providing they can "realise" cash by selling either the club or some of its assets.
Wanderers are due to answer a winding up petition in court on January 18, but this latest order gives them some breathing space.
The club also revealed today that league rivals Preston North End have expressed an interest in buying the club’s training complex at Euxton.
Trevor Birch said: “The court has given us consent to carry on trading up to the winding up petition date of January 18, providing we can realise some cash by either the sale of the club or assets.”
Ahead of tomorrow's home Championship clash against Fulham, first-team manager Neil Lennon gave an update on a potential takeover of the club from owner Eddie Davies.
And while talks remain ongoing, Lennon said Mr Birch was increasingly confident the threat of administration could be staved off.
That is good news for everyone at the club after fears in recent weeks that scenario may be unavoidable with a winding-up petition issued by HMRC and playing staff unpaid last month.
The remainder of the club's staff are set to receive their salary for December next week, while Lennon revealled the Professional Footballers’ Association are helping meet wages for the players this month.
Lennon told The Bolton News: “Trevor is confident there will be no administration which is obviously good news.
“Hopefully the new year will bring a change of luck.
“I think it’s a positive that we may avoid administration.
“I wouldn’t say it is 100 per cent clear but it’s looking more and more likely now that we will avoid that.
“As for the takeover, it’s as you were.
“I know Trevor is trying to negotiate selling off some parts of the stadium and that’s hopefully going to get some of the wages through for December anyway, or part of them.
“If it’s for the players then the PFA are hoping to step in and pay the rest.
“The staff will get paid and the players will as well, hopefully.
“That will then take us through to January.
“It will give us a bit of time then to get the deal done fully.”
It is understood the sale of the Whites hotel at the Macron Stadium as well as office space have both been looked into.
But news of the training ground being up for sale is fresh.
Preston chairman Peter Ridsdale was at Euxton last month and Lennon said North End officials have revisited the site this past week.
If the base is sold, it would mean Lennon and his first-team squad upping roots – possibly to the Eddie Davies Academy site at Lostock.
However, the boss understands there is no deal in place yet.
Lennon said: “I know Peter Ridsdale was down at the training ground looking at the site at Euxton a few weeks ago.
“I also know Preston were here again this week but I haven’t heard any more on that from Trevor.”
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