Bolton Settle Bank Debt Held Against Whites Hotel

  • February 19, 2016 | By Chris Mann
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Bolton Wanderers have settled mortgate and debt balances owed to National Westminster (NatWest) Bank PLC, which were charged against the club's Bolton Whites Hotel.

Mortgate and debenture charges were granted by the bank on May 24, 1999, when the premises was opened under the De Vere Venues umbrella, and were carried forward after Wanderers took sole ownership of the business in August 2013.

After taking the decision to sell car parking land outside the North Stand of Macron Stadium in January, a figure of £5.5million, provided by Prescot Business Park Limited, was used as security against the hotel - ensuring the company would be legally entitled to reclaim the balance in the event Wanderers were placed into liquidation.

Documents, publicly available via the Companies House website, confirm the charges owed to NatWest were cleared on Thursday, as well as a previously documented debenture owed to Nucleus Commercial Finance Limited, made possible by the sale of office premises.

At the time of writing, nine separate charges remain against the club - as follows:

29/01/2016 - Prescot Business Park Limited (Ordinary Shares)
24/12/2014 - William Brett Warburton (F/H of Land - Hall Lane/Lostock Lane)
27/04/2010 - Barclays Bank PLC (Debenture)
27/10/2009 - Moonshift Investments Limited (Deed of Assignment)
27/10/2009 - Moonshift Investments Limited (Legal Charge)
16/02/2006 - Moonshift Investments Limited (Legal Charge)
22/09/2003 - Moonshift Investments Limited (Amendment to a Debenture)
08/11/2002 - Moonshift Investments Limited (Debenture)
09/07/2001 - Moonshift Investments Limited (Legal Charge)

With Eddie Davies vowing to wipe the value of debts owed to his parent company - Moonshift Investments Limited - upon the conclusion of a sale, Bolton are left facing the prospect of clearing the balance of a loan owed to Barclays Bank PLC before ultimately becoming debt free.

Sky Bet League One Standings

Pos Team Pld Pts
7 Plymouth Argyle 46 80
8 Oxford United 46 76
9 Bolton Wanderers 46 73
10 Portsmouth 46 73
11 Ipswich Town 46 70
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