Bolton Wanderers hit with winding-up petition

Fri, 28 Apr 2017 | BUSINESS NEWS

Bolton Wanderers have been issued with a winding-up petition over an unpaid £5 million loan that paved the way for a takeover of the League One side.

Finance firm BluMarble lent the money to Sports Shield BWFC, a consortium led by former Bolton striker Dean Holdsworth. Alongside Inner Circle Investments, headed by chairman Ken Anderson, it took a controlling stake in Burnden Leisure, which owns Bolton.

In March, Anderson acquired Holdsworth’s shares to become the majority owner of the club.

A winding-up petition is a legal notice put forward by a creditor who aims to have a company liquidated in order to force repayment of debt.

According to our research, there was a 28 per cent rise in the number of petitions issued in the first quarter of this year compared to the final quarter of last year.

A High Court date for Bolton Wanderers has been set for 22 May. In a statement the club said: "Bolton Wanderers Football Club has been made aware of the proposed action by BluMarble in respect of their arrangements with Sports Shield BWFC.

"This matter relates to Sports Shield BWFC and it is therefore inappropriate for either Burnden Leisure, Bolton Wanderers Football Club or Inner Circle Investments to comment and as such will not make any further statement about this issue at this present time."

Read more about winding-up petitions, including the opportunities they present for buyers of distressed businesses, in our latest subscriber-only report - How does the winding-up petition process work? Are there opportunities for entrepreneurs?


Share this article



Latest Businesses for Sale

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
18
 
Jan
 

Bolton Wanderers to propose administration escape plan | ADMINISTRATION

Championship football club Bolton Wanderers are set to put f...

 
04
 
Dec
 

Potential buyers eye-up administration-threatened Bolton Wanderers | ADMINISTRATION

Bolton Wanderers FC are on the brink of administration, but ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources