Bolton liquidation ‘put on hold’
Bolton Wanderers confirmed this morning that “any plans that may have been made for the immediate closure of the club have been put on hold”.
Reports claimed that joint administrator Paul Appleton told club staff earlier today in an internal message that “any plans that may have been made for the immediate closure of the club have been put on hold” due to negotiations with preferred bidder Football Ventures continuing.
He had warned over the Bank Holiday weekend that administrators would start the process to close the business from today, and put Bolton Wanderers into liquidation, if they were unable to conclude a sale by yesterday’s 5pm deadline, imposed by the English Football League (EFL).
Administrators said that “the club is currently not in a position to carry on trading”.
Closure of the club could result in the loss of more than 150 jobs.
Failure to get all parties to the takeover deal to agree led to Bolton missing yesterday’s deadline.
But this morning the administrators sought to reassure staff that closure plans are, for the time being, on hold.
Last night the EFL announced it had given Bolton two weeks to either conclude a deal, or prove it had the necessary finances to continue its 2019-20 League One season.
Failure to do so would result in the club losing its Football League status, which is the fate that befell neighbours Bury FC last night after it failed to get a takeover deal over the line.