Preston North End takeover edges closer

INVESTORS controlling more than 80% of shares in championship football club Preston North End have accepted the takeover bid from Lancashire businessman Trevor Hemmings.

Mr Hemmings – who had been funding the club via his Guild Ventures vehicle – stepped in with a rescue takeover bid after the Lancashire club was served with a winding-up order for an unpaid tax bill from HM Revenue and Customs.

At close of business yesterday Deepdale PNE Holdings – the Hemmings bid vehicle – had received acceptances of the offer amounting to an 81.15% stake in the club.
Deepdale PNE said the offer would remain open until further notice.

Preston has settled the original winding-up order with the tax authorities, but was last month served with another demand.