The High Court today postponed a decision on the winding-up of Bolton Wanderers as the club’s owner said he had “no choice but to place the club into administration”.
The club is facing an uncertain fortnight as it teeters on the brink of administration and its case is due to be heard in the High Court once more on Wednesday 22nd May – but for now it has avoided the threat of liquidation.
Despite no resolution coming from the club or the High Court today , as well as the collapse of a potential sale of the club, Bolton’s chairman Ken Anderson said: “This had been a massive disappointment to me as I understand the serious implications administration will bring to the businesses.
“But I have been left with no alternative, as this course of action will preserve the football club and all of its proud history.”
One of the club’s main creditors, The Eddie Davies Trust, has asked for administration but that request did not reach the High Court in time for today’s hearing.
Meanwhile the Bolton Wanderers Supporters’ Trust have launched a ‘fighting fund’ to cover the costs in dealing with an administration of the club – with £14,520 raised already.
“This fund will cover legal costs,” the trust said. “Contribute to any shortfalls in funding an administration and to cover costs that will undoubtedly be incurred in making representation to the EFL in the event that they look to impose any unfair penalties as a result of recent events.
“This will be vitally important in looking to next season and the start of the BWFC rebuilding exercise.”
The Lion of Vienna Suite, part of the coalition of blogs and websites that ran the protest against Anderson back in February, said it was “intense” day at the High Court.
“Hopefully this is the start of the fight back. Big two weeks ahead,” they tweeted earlier today. “The club cannot afford for this process to drag, that’s for sure.”
Once administration is confirmed, Bolton Wanderers will be hit with a points deduction by the EFL next season.
Thanks to PA Images for the image used in this story.