Bolton Wanderers: Winding-up petition adjourned again to allow time for takeover

Eddie Davies and Dean Holdsworth
Dean Holdsworth (right) is close to completing a takeover from owner Eddie Davies

A winding-up petition against Bolton has again been adjourned at the High Court to give Dean Holdsworth's consortium time to complete a takeover.

The Football League has given approval for Holdsworth's Sports Shield group to complete a £7.5m purchase of Bolton but want the final say on all transfer dealings for the next five windows.

Owner Eddie Davies says he expects the deal to be done within the next week.

Wanderers, who are £172.9m in debt, are now next due in court on 21 March.

"Bolton Wanderers can announce that the club has been granted a third and final adjournment of 14 days by the High Court at today's hearing in respect of the winding-up petition, in order to allow the owner to complete a sale of the controlling interest in the club," said a club statement.external-link

"The board would again like to thank all staff at the club for their loyalty and unfaltering commitment to the cause through this incredibly difficult period."

In January, the court heard that the club owed £2.2m to HM Revenue & Customs, but at a subsequent hearing on 22 February, allowed Holdsworth, 47, more time to settle the unpaid unpaid tax and VAT bill, when he proved that a takeover agreement was close.

Bolton, who are also under transfer embargo for breaking Financial Fair Play regulations, have sold off their training ground and stadium car park to raise funds in recent months.

Neil Lennon's side lost 2-1 to Leeds on Saturday and are 10 points from safety at the bottom of the Championship.

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